New Delhi. On the occasion of Swiggy's IPO listing on the National Stock Exchange (NSE), the company's CEO Sriharsha Majety surprised everyone by arriving. Majesty usually stays away from public events. On this special occasion, he shared the stage with Swiggy's leadership team and delivery partners. Delivery partners Jigar Khan and Namrata were also present with him. This presence of Majety has been recorded as an important moment in Swiggy's journey.
At the listing ceremony, Majesty described the company's journey as a "miracle" while talking about the beginning of Swiggy. He said that the idea of Swiggy first came to him during a college project at the Indian Institute of Management (IIM) Kolkata, but after that, he forgot about this idea. After some time, he adopted the same idea again in a new form, which has today taken the form of a huge company. Majety credited his leadership team for the success of Swiggy and expressed gratitude for their support. He said that the collective efforts of the team have played an important role in taking the company to its current position.
Swiggy's IPO comes at a time when India is witnessing intense competition in the delivery sector. Swiggy is now competing directly with competitors like Zomato and Zepto. While Zomato CEO Deepinder Goyal remains active on social media and public activities, Majety generally stays away from publicity.
Apart from this, a big Employee Stock Option Plan (ESOP) has also been announced with Swiggy's IPO, which includes a payment of about Rs 9,000 crore for the employees. Under this ESOP scheme, about 500 employees of the company will get an opportunity to become a millionaire. This scheme sets a new precedent in India's startup ecosystem, where it is rare for employees to get a chance to earn benefits on such a large scale. Through this IPO, Swiggy has expressed its commitment and gratitude to its long-standing employees, who have been an integral part of this great journey of the company.
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