Swiggy, the Bengaluru-based food and grocery delivery giant, has received the green light from its shareholders to pursue an initial public offering (IPO) that could raise up to $1.25 billion. The company plans to issue fresh equity shares worth up to $450 million and sell existing shares worth up to $800 million in the IPO. According to regulatory filings reported by Economic Times (ET), Swiggy’s shareholders have approved the creation, issuance, offer, allotment, and transfer of equity shares up to an aggregate of $450 million by way of a fresh issue and an offer for sale of equity shares up to an aggregate amount of $800 million by certain existing shareholders. Additionally, ET reported that Swiggy is seeking about $90 million from anchor investors in a pre-IPO round. However, Swiggy has not yet submitted its IPO filings to the Securities and Exchange Board of India (SEBI), the nation’s capital markets regulator.
Swiggy IPO: Shareholders Approve Push for $1.25 Billion Fundraising
