Swiggy IPO: Firm receives shareholders' nod to increase primary issue size to ₹5,000 crore

Swiggy, as per news reports, has received shareholders' nod to increase the size of the primary issue of its IPO from ₹3,750 crore to ₹5,000 crore (if the company requires additional funds) at the extraordinary general meeting (EGM) held on October 3.
Last week, the online food ordering and delivery company filed its updated draft papers with capital markets regulator SEBI to raise funds through its much anticipated initial public offering (IPO).

Swiggy has created a provision for a larger IPO, and the size will be increased by ₹1,250 crore if the company requires additional funds. It must be noted here that only the size of the primary issue has been increased from ₹3,750 crore to ₹5,000 crore. The offer for sale (OFS) component remains unchanged at ₹6,664 crore, Moneycontrol reported, citing sources.
Those selling shares in the OFS are Accel India IV (Mauritius) Ltd, Apoletto Asia Ltd, Alpha Wave Ventures, LP, Coatue PE Asia XI LLC, DST EuroAsia V BV, Elevation Capital V Ltd, Inspired Elite Investments Ltd, MIH India Food Holdings BV, Norwest Venture Partners VII-A Mauritius, and Tencent Cloud Europe BV.

The food delivery company posted ₹2,350 crore in net loss in the last fiscal year (FY24). However, the company reduced the net loss by 44% from ₹4,179 crore in FY23.

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