Swiggy To Increase IPO Size, Eyes INR 5,000 Cr Via Fresh Issue

Swiggy To Increase IPO Size, Eyes INR 5,000 Cr Via Fresh Issue

SUMMARY

Swiggy plans to get shareholders’ nod to raise INR 5,000 Cr (about $600 Mn) through a fresh issue of shares as against INR 3,750 Cr (around $450 Mn) planned earlier

The food tech major will look to get the consent of its shareholders for its revised IPO plans at its extraordinary general meeting on October 3

Swiggy trimmed its consolidated net loss by 44% to INR 2,350 Cr in FY24 from INR 4,179 Cr in the previous fiscal year

Amid rekindled investor interest in public listings of India’s tech startups, food and grocery delivery giant Swiggy is considering increasing the fresh issue size of its initial public offering (IPO).

Swiggy plans to get shareholders’ nod to raise INR 5,000 Cr (about $600 Mn) through a fresh issue of shares as against INR 3,750 Cr (around $450 Mn) planned earlier, Entrackr reported, citing internal company documents.

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