Swiggy’s initial public offering (IPO) is not only one of the biggest offerings in recent years, but it is also set to have a significant impact on the lives of the company’s employees. As the Bengaluru-based food delivery giant made its stock market debut today, Money Control reported that 500 of its employees are likely to become millionaires thanks to Swiggy’s employee stock option plans (ESOPs).

The current valuation of Swiggy is around $12 billion. Hundreds of employees will reportedly earn more than Rs 1 crore, while the rest of the eligible employees will share a portion of the Rs 9,000 crore ESOP pool. This wealth creation exercise is set to become one of the biggest in India’s startup ecosystem, putting Swiggy’s IPO in a class of its own with major players like Flipkart and Zomato.

Swiggy’s IPO provides a rare opportunity for employees to cash in on the company’s success, with ESOPs worth Rs 9,000 crore unlocked as part of the public offering. Employees who have been with the company for many years and have contributed to its growth will benefit from the listing, with some expected to become part of the exclusive “millionaires club”.

In terms of wealth creation, Swiggy’s IPO is expected to overtake Zomato and Paytm. When Zomato went public in 2021 with a Rs 9,375 crore IPO, it created 18 millionaires, while Paytm’s listing made around 350 employees millionaires. However, Swiggy’s IPO is set to reward a large group of employees, making it one of the most significant wealth distribution programs in the Indian startup sector.

Swiggy’s debut in the stock market has generated significant interest, with shares opening at Rs 420 per share on the National Stock Exchange (NSE) at a 7.69 per cent premium, while the IPO is priced at Rs 390 on the Bombay Stock Exchange (BSE). , the stock listed at Rs 412, indicating a premium of 5.64%. This strong listing performance shows that Swiggy is likely to maintain a strong presence in the market and continue its growth trajectory.