Swiggy IPO: Food delivery company gets shareholder approval for $1.2 billion public issue - Report

The nutrient and market transportation concern intends to rise up to ₹3,750 crore ($450 million) successful caller capital, arsenic good arsenic an offer-for-sale (OFS) constituent worthy up to ₹6,664 crore ($800 million), said ET successful its report.

“...the consent and support of the shareholders of the institution beryllium and is hereby according to create, issue, offer, allot and/or transportation of its equity shares up to an aggregate of ₹37,501 cardinal by mode of a caller contented of equity shares and an connection for merchantability of specified fig of equity shares up to an aggregate magnitude of ₹66,640 cardinal by definite existing shareholders…," the filing read, according to ET quality report.

Further ET stated that successful a pre-IPO round, Swiggy is reportedly seeking astir ₹750 crore from anchor investors. Swiggy has not yet submitted its IPO filings to the Securities and Exchange Board of India (SEBI), the nation's superior markets regulator.

The peculiar solution passed astatine Swiggy's bonzer wide gathering (EGM) connected April 23.

(more to come) 

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Published: 25 Apr 2024, 12:19 PM IST