What is going to happen for ESOPs of Swiggy former employees
I am formers employee of Swiggy and I hold some esops. As fast as I know there have been no communication from the company on what will be the next steps/taxation or login period after IPO at all. In the esop portal also none of the information around current FMV is displayed under the name of ‘maintenance’. And now listing is going to happen around 8th Nov. we still have only esops and first need to exercise and get shares of them (1:1400 ratio) there has been no option to exercise yet.
So if any of former employees of Swiggy know what is going to happen please let me know. I am specifically worried about timeline when we have to vest and taxes that we have to pay (35%)..
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I am in same position. I mailed the HR about it last month and got the reply
"You will be able to exercise your vested ESOPs into shares (and subsequently be able to sell) as and when Swiggy goes IPO. Mail communications will be shared closer to the actual date of IPO explaining this process in detail."
But, still no mail communication. I hope my vested ESOP doesn't end up in drain.
Apologies on terrible grammar, currently I am typing in a vehicle and there is no option to edit the post.
How many esops do you have?