Swiggy Shareholders Give Nod For $1.2 Bn IPO
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...
Click here to read full article from source
To read the full article or to get the complete feed from this publication, please
Contact Us.