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Swiggy, the food delivery and quick commerce firm, is set to raise Rs 5,000 crore ($602 million) in a fresh issue as part of its initial public offering (IPO). This marks an increase from the previously expected Rs 3,750 crore ($450 million). The company will hold an Extraordinary General Meeting (EGM) on October 3 to finalize the IPO. Swiggy has seen a significant rise in orders during the festive season, solidifying its position in the quick commerce sector. Earlier reports indicated that Swiggy was expected to raise Rs 10,400 crore.
Swiggy seeking to raise more primary capital in its planned IPO. Rs 5,000 crore target now from the earlier Rs 3,750 crore. OFS remains separate, of course. EGM on October 3 https://t.co/1SnjFkf8kL https://t.co/RXFJo4wCr0
#Business | Swiggy increases IPO size: Company to now raise Rs 5,000 crore in fresh issue up from Rs 3,750 crore 🛵🍴 @Goenka_Tushar1 writes more on this👇 https://t.co/A2rLCpmrJF #Swiggy #IPO #FreshIssue
The company, which was first expected to raise Rs 3,750 crore (around $450 million) through a fresh issue, will now issue fresh shares worth Rs 5,000 crore (about $600 million). Swiggy was initially expected to raise $1.25 billion through its IPO, Rs 3,750 crore (around $450… https://t.co/RcpXJaBKNA
