Swiggy IPO makes 500 employees 'crorepatis'; unlocks Rs 9,000 cr worth of ESOPs
New Delhi, Nov 13: Swiggy's much-anticipated stock market debut on Wednesday catapulted over 500 current and former employees to the "crorepati" club, with the food delivery and quick commerce major's listing poised to unlock Rs 9,000 crore in ESOPs for 5,000 staffers, people aware of the details said.
Swiggy's initial share sale had a price range of Rs 371-390 a share.
"The total Employee Stock Option Plan (ESOP) pool is worth Rs 9,000 crore, with 5,000 past as well as present employees holding them. At the upper price range of the initial share price (Rs 390), 500 employees out of the 5,000 are set to become crorepatis," a person in the know shared the details requesting anonymity.
On Wednesday, shares of Swiggy were listed with a premium of nearly 8 per cent against the issue price of Rs 390 on NSE.
Shares of the firm made the market debut at Rs 420, a jump of 7.69 per cent on the bourse.
The stock on the BSE was listed at Rs 412, a jump of 5.64 per cent from the issue price. Later, it surged 7.67 per cent to Rs 419.95.
The company's market valuation stood at Rs 89,549.08 crore during the early trade.
The Rs 11,327-crore initial public offer of Swiggy was fully subscribed on the final day of the share sale on Friday, ending with 3.59 times subscription.
The company's IPO (Initial Public Offering) had a fresh issue of shares worth Rs 4,499 crore, along with an Offer-For-Sale (OFS) of Rs 6,828 crore.
Going by the draft papers, the company plans to utilise proceeds from the fresh issue for investing in technology and cloud infrastructure; brand marketing and business promotion; and debt payment; and funds will also be allocated for inorganic growth and general corporate purposes.
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Two girls injured in separate wolf attacks in UP's Bahraich
Bahraich (UP) (PTI): Two minor girls were injured in separate incidents of wolf attacks in the Bahraich district, forest department officials said on Saturday.
In the first incident on Friday, Anushka Nishad (5), daughter of Baliram from Mallahanpurwa village, was sleeping alone inside her house when a wolf entered and tried to carry her away, they said.
Hearing her screams, family members and villagers rushed to the spot. The wolf left the child, hearing the commotion, and ran towards the fields. The girl sustained minor injuries from the animal's teeth, the officials said.
Divisional Forest Officer Ram Singh Yadav described the attack as deliberate and cleverly planned, as it occurred precisely when Anushka's mother went out for a few moments.
On the same day, Nancy (4), daughter of Kamlesh Yadav, was playing outside her house in Baburi Tola village when a wolf suddenly attacked and dragged her away.
Villagers raised an alarm, and the wolf released the child and ran towards the sugarcane fields. The injured child was sent to the Kaiserganj Community Health Centre for treatment.
Divisional Forest Officer Ram Singh Yadav told reporters that both attacks involved wolves, adding that the entire area is plagued by the animal's activity.
Since September 9, such attacks in the Bahraich district have claimed 10 lives, including eight children and an elderly couple, and injured dozens of people, the officials said.
District Magistrate Akshay Tripathi met the families of the victims on Friday and consoled them.
