{"id":173745,"date":"2024-11-13T03:10:55","date_gmt":"2024-11-13T03:10:55","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/11\/13\/500-swiggy-staffers-to-turn-crorepatis-times-of-india\/"},"modified":"2024-11-13T03:10:55","modified_gmt":"2024-11-13T03:10:55","slug":"500-swiggy-staffers-to-turn-crorepatis-times-of-india","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/11\/13\/500-swiggy-staffers-to-turn-crorepatis-times-of-india\/","title":{"rendered":"500 Swiggy staffers to turn crorepatis &#8211; Times of India"},"content":{"rendered":"<div style=\"text-align:center\"><img loading=\"lazy\" decoding=\"async\" width=\"400\" height=\"300\" src=\"https:\/\/i3.wp.com\/static.toiimg.com\/thumb\/msid-115230025,imgsize-75892,width-400,resizemode-4\/115230025.jpg?fit=400,300&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"500 Swiggy staffers to turn crorepatis &#8211; Times of India\" title=\"500 Swiggy staffers to turn crorepatis &#8211; Times of India\" \/><\/div><p> <br \/>\n<\/p>\n<div data-articlebody=\"1\">\n<div class=\"_s30J clearfix  \">\n<div class=\"MwN2O\">\n<div class=\"T22zO\">\n<section class=\"D3Wk1  clearfix id-r-component leadmedia undefined undefined  VtlfQ\" style=\"top:0px\">\n<div class=\"D3Wk1\" data-ua-type=\"1\" onclick=\"stpPgtnAndPrvntDefault(event)\">\n<div class=\"zPaFh\">\n<div class=\"wJnIp\"><\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div><\/div>\n<p>BENGALURU: As <!-- -->Swiggy<!-- --> prepares for its stock market debut on Wednesday, around 500 employees will join the <!-- -->crorepati<!-- --> club through their stock ownership in the food delivery platform.<br \/>Dubbed as one of the largest wealth-creation events in the Indian startup sector, Swiggy\u2019s IPO is poised to create a Rs 8,690-crore windfall through the <!-- -->employee stock ownership plan<!-- --> (ESOP) which will benefit 5,000 present and former staffers. Bengaluru-based Swiggy has distributed Rs 500 crore to its employees through ESOPs.<br \/>Previously, e-commerce giant Flipkart achieved a comparable liquidation milestone. Following Walmart\u2019s takeover, Flipkart\u2019s workforce participated in a substantial $700-million <!-- -->ESOP buyback scheme<!-- --> in 2023. The programme extended eligibility to approximately 20,000 staff members, offering them a significant financial opportunity through stock compensation.<\/p>\n<div data-pos=\"0\" class=\"id-r-component QbQNS undefined  &#10;        \">\n<div><img decoding=\"async\" alt=\"500 Swiggy staffers to turn crorepatis\" msid=\"115230023\" width=\"600\" title=\"\" placeholdersrc=\"https:\/\/static.toiimg.com\/photo\/83033472.cms\" imgsize=\"23456\" resizemode=\"4\" offsetvertical=\"0\" placeholdermsid=\"\" type=\"thumb\" class=\"\" src=\"https:\/\/static.toiimg.com\/thumb\/imgsize-23456,msid-115230023,width-600,resizemode-4\/115230023.jpg\" data-api-prerender=\"true\"\/><\/div>\n<\/div>\n<p>An email sent to Swiggy didn\u2019t elicit a response till the time of going to press. The development was first reported by news website The Arc on Tuesday.<br \/>Swiggy\u2019s shares are set to debut trading on the stock exchanges, after the public issue was subscribed 3.5 times. The Rs 11,327-crore IPO (about $1.4 billion) is the second-largest public issue to hit the exchanges this year after Hyundai Motor India\u2019s Rs 27,870-crore listing.<br \/>The IPO would also be the biggest technology firm <!-- -->public offering<!-- --> since the Paytm IPO in 2019. The company has set a price band of Rs 371-390 apiece for the IPO. It will debut trading on bourses on Wednesday. The company\u2019s public issue was subscribed 3.59 times, primarily driven by interest from institutional investors.<br \/>Nasdaq-listed SaaS company Freshworks created significant wealth for its workforce in 2021, with 500 staff members becoming millionaires (crorepatis). The company\u2019s founder Girish Mathrubootham said that amongst these newly minted crorepatis, 70 employees were younger than 30 years.<\/div>\n<\/div>\n<p><script>\nvar _mfq = window._mfq || [];\n_mfq.push([\"setVariable\", \"toi_titan\", window.location.href]);\n!(function(f, b, e, v, n, t, s) {\n    function loadFBEvents(isFBCampaignActive) {\n      if (!isFBCampaignActive) {\n        return;\n      }\n      (function(f, b, e, v, n, t, s) {\n        if (f.fbq) return;\n        n = f.fbq = function() {\n          n.callMethod ? n.callMethod(...arguments) : n.queue.push(arguments);\n        };\n        if (!f._fbq) f._fbq = n;\n        n.push = n;\n        n.loaded = !0;\n        n.version = '2.0';\n        n.queue = [];\n        t = b.createElement(e);\n        t.async = !0;\n        t.defer = !0;\n        t.src = v;\n        s = b.getElementsByTagName(e)[0];\n        s.parentNode.insertBefore(t, s);\n      })(f, b, e, 'https:\/\/connect.facebook.net\/en_US\/fbevents.js', n, t, s);\n      fbq('init', '593671331875494');\n      fbq('track', 'PageView');\n    };\n    function loadGtagEvents(isGoogleCampaignActive) {\n      if (!isGoogleCampaignActive) {\n        return;\n      }\n      var id = document.getElementById('toi-plus-google-campaign');\n      if (id) {\n        return;\n      }\n      (function(f, b, e, v, n, t, s) {\n        t = b.createElement(e);\n        t.async = !0;\n        t.defer = !0;\n        t.src = v;\n        t.id = 'toi-plus-google-campaign';\n        s = b.getElementsByTagName(e)[0];\n        s.parentNode.insertBefore(t, s);\n      })(f, b, e, 'https:\/\/www.googletagmanager.com\/gtag\/js?id=AW-877820074', n, t, s);\n    };\n    function loadSurvicateJs(allowedSurvicateSections = []){\n      const section =  window.location.pathname.split('\/')[1]\n      const isHomePageAllowed = window.location.pathname === '\/' && allowedSurvicateSections.includes('homepage')\n      if(allowedSurvicateSections.includes(section) || isHomePageAllowed){\n        (function(w) {\n         function setAttributes() {\n                    var prime_user_status = window.isPrime ? 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