India, April 25 -- Bengaluru-based food delivery giant Swiggy has secured approval from its shareholders for an initial public offering (IPO) worth INR 10,414.1 Cr ($1.2 Bn).

The startup's IPO offer will include fresh issue shares worth INR 3,750.1 Cr (~ $449 Mn), besides offer-for-sale worth INR 6,664 Cr (~$799 Mn), as per regulatory filings.

For the uninitiated, offer-for-sale means when an existing shareholder of the company sells their shares during a public listing of a company.

Besides the IPO offer, Swiggy is also eyeing a pre-IPO round worth INR 750 Cr in consultation with its Book Running Lead Manager (BRLMs). If the pre-IPO round takes place, this will reduce the fresh issues worth to the extent of money raised during the pre...