| | AUGUST 20238Swiggy announced the second tranche of its two-year employee stock ownership plan (ESOP) liquidity programme on July 24, as part of which the company is repurchasing shares from over 2,000 eligible employees. The total amount of the ESOP buyback spread over the years 2022 and 2023 is $50 million.The Bengaluru-based food delivery company announced a two-year ESOP liquidity programme for 2022 and 2023 in 2021. Employees of Dineout will also be able to take advantage of the plan this year. Swiggy had purchasedDineout, a dining out and restaurant tech platform from Times Internet in a deal pegged over $100 million in May last year. "Two years ago, Swiggy announced a one-of-its kind ESOP programme. . . we are happy that we are able to keep our commitment of sharing Swiggy's success and growth through these wealth creation opportunities," head of HR Girish Menon said in a statement. Reliance Industries of India announced on July 24 that it will invest up to 10 billion Indian rupees ($122.24 million) in building data centres in the country with Brookfield Infrastructure of Canada.The announcement comes at a time when India's data centre capacity is expected to grow exponentially as more people connect to the internet.Reliance will initially invest approximately 3.78 billion rupees in Mercury Holdings SG Pte units, which is a joint venture (JV) between Brookfield Infrastructure and the United States-based real estate investment trust Digital Realty. The joint venture is currently constructing data centres in Chennai and Mumbai.When necessary, Mukesh Ambani's company has committed to investing the remaining 6.22 billion rupees in equity and debt securities of the JV's units.According to the company, Reliance will own 33.33 percent of each of the JV's Indian units and will become an equal partner in the venture, which will be known as Digital Connexion.According to a report by investment bank Avendus Capital, India's data centre market is expected to grow 40 Percent per year and attract $5 billion in investment by 2025.With Reliance's entry, the Indian data centre space is also heating up, as Adani Enterprises' joint venture has already raised $213 million to fund under-construction data centres. SWIGGY ANNOUNCES STOCK BUYBACK FROM EMPLOYEESRIL ANNOUNCES $122 MILLION INVESTMENT TO BUILD DATA CENTERSIN FOCUSIN FOCUS
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