Swiggy Moves Closer to IPO with Updated Filing

Food and grocery delivery platform Swiggy has filed updated papers with market regulator Sebi for its highly anticipated IPO, aiming to raise over Rs 10,000 crore. The IPO includes a fresh issue of shares worth Rs 3,750 crore and an offer-for-sale of 18.52 crore shares by existing shareholders.

Food and grocery delivery major Swiggy on Thursday took a significant step towards going public, filing its updated draft papers with capital markets regulator Sebi. The company aims to raise over Rs 10,000 crore through its much-anticipated initial public offering (IPO).

The proposed IPO includes a fresh issue of equity shares valued at Rs 3,750 crore and an offer-for-sale (OFS) of 18.52 crore equity shares by existing shareholders, according to the updated draft red herring prospectus (UDRHP).

Proceeds from the IPO will be utilized for various purposes, including debt repayment, expanding the Quick Commerce segment, investing in technology and cloud infrastructure, brand marketing, business promotion, and general corporate purposes. Swiggy, valued at nearly USD 13 billion, is poised for significant growth through this public offering.

(With inputs from agencies.)