New Delhi, April 25
Food and grocery delivery major Swiggy has received shareholders’ approval for an initial public offering to raise Rs 10,414 crore fund through issue of fresh equity shares and an offer for sale, according to sources. A special resolution was passed at an extraordinary general meeting of Swiggy on April 23, they said.
According to sources, the Bengaluru-based company plans to raise up to Rs 3,750 crore funds through fresh equity shares, in addition to an offer-for-sale component of up to Rs 6,664 crore. The company is looking to shore up about Rs 750 crore from anchor investors in a pre-IPO round, they added.
Swiggy, founded in 2014, has a valuation of $12.7 billion as on April 10, 2024. Its annual revenue stood at $1.09 billion as on March 31, 2023. The company has more than 4,700 employees, according to Tracxn, a global startup data platform.
Join Whatsapp Channel of The Tribune for latest updates.
Most Read In 24 Hours
Don't Miss
View All
Top News
Excise scam: No immediate relief for Arvind Kejriwal; but SC hints at interim bail to Delhi CM in view of Lok Sabha polls
ED vehemently opposes interim bail to Kejriwal, even as SC i...
Excise ‘scam’: Delhi court extends judicial custody of Arvind Kejriwal, Manish Sisodia, K Kavitha
Special judge for CBI and ED matters Kaveri Baweja extends K...
Glorification of violence should not be part of any civilised society, India tells Canada
Calls upon the Justin Trudeau government to stop providing c...
Resume work as IAS officer, Punjab tells BJP’s Bathinda candidate Parampal Kaur
Refuses to accept IAS officer’s resignation
3 Independent MLAs withdraw support, BJP govt reduced to minority in Haryana
The government which has the support of two other Independen...
