CosmicTaco

Swiggy Shareholders Approve Fresh Issue Size Increase to INR 5,000 Cr

CosmicTaco · 2024-10-04T07:34:28.908751+05:30

- Swiggy received shareholders' approval to increase fresh issue size to INR 5,000 Cr. - The foodtech major aims to raise $1.4 Bn through its IPO, at a likely valuation of $15 Bn. - The IPO will also include an offer for sale component of 18.53 Cr shares. - US-based asset manager Invesco recently marked up Swiggy’s valuation to $13.3 Bn. - Despite widening net loss, Swiggy’s revenue from operations increased 35% due to strong growth in food delivery and quick commerce businesses. Source: [Inc42](https://inc42.com/buzz/swiggy-ipo-foodtech-major-gets-shareholders-nod-to-up-fresh-issue-size-to-inr-5000-cr/)

Swiggy received shareholders' approval to increase fresh issue size to INR 5,000 Cr.
The foodtech major aims to raise $1.4 Bn through its IPO, at a likely valuation of $15 Bn.
The IPO will also include an offer for sale component of 18.53 Cr shares.
US-based asset manager Invesco recently marked up Swiggy’s valuation to $13.3 Bn.
Despite widening net loss, Swiggy’s revenue from operations increased 35% due to strong growth in food delivery and quick commerce businesses.

Source: Inc42