Swiggy Allots Over 8.64 Lakh Shares Under ESOP

SUMMARY

The startup said its paid-up equity share capital after the allotment stands increased to INR 2,28,26,49,799 from INR 2,28,17,85,382 earlier

With its shares ending the last trading session at INR 354.35, the worth of newly allotted shares translated to INR 30.62 Cr

The foodtech giant recently announced its plans to invest INR 1,000 Cr in its wholly owned subsidiary Scootsy Logistics Pvt Ltd

Listed foodtech major Swiggy has allotted 8.64 Lakh equity shares under its employee stock option (ESOP) Plan 2021 after allotting 1.7 Cr equity shares last week.

In an exchange filing today (February 26), Swiggy said that it “approved the allotment of 8,64,417 equity shares of the company pursuant to the exercise of stock options by the eligible employees, under Swiggy ESOP Plan 2021.”

The startup said its paid-up equity share capital after the allotment stands increased to INR 2,28,26,49,799 from INR 2,28,17,85,382 earlier.

With its shares ending the last trading session at INR 354.35, the worth of newly allotted shares translated to INR 30.62 Cr.

“We would like to confirm that the above allotted shares shall rank pari-passu with the existing equity shares of the company,” the filing said.

The foodtech giant recently announced its plans to invest INR 1,000 Cr in its wholly owned subsidiary Scootsy Logistics Pvt Ltd. Swiggy said that the investment is for working capital and other capital expenditures as part of the company’s business expansion.

Scootsy is an intracity online delivery service that deals in categories such as restaurant and gourmet food, toys, beauty, electronics and more to the customer’s doorstep.

Swiggy reported a 39.1% increase in its consolidated net loss to INR 799 Cr in the third quarter of the ongoing financial year (FY25) from INR 574.4 Cr in the year-ago quarter. On a quarter on quarter (QoQ) basis, loss increased 27.7% from INR 625.5 Cr.

The biggest contributor to Swiggy’s net loss this quarter was its quick commerce arm, Instamart. In Q3 FY25, the company’s quick commerce arm raked in a loss of INR 527.68 Cr, up 70% YoY from INR 310.36 Cr.

The company’s revenue from operations zoomed nearly 31% to INR 3,993.1 Cr during the quarter under review from INR 3,048.6 Cr in Q3 FY24. On a quarter-on-quarter (QoQ) basis, it rose 10.9% from INR 3,601.4 Cr.