30 October 2024
Swiggy, the food and grocery delivery company, on Tuesday filed a red herring prospectus (RHP) with the market regulator for its Rs 11,300-crore initial public offering (IPO).
The company reportedly increased the targeted primary fundraising through issuance of new shares to Rs 4,499 crore, from its earlier plan of Rs 3,750 crore. In the offer for sale (OFS) window, the company will sell 175.1 million shares, according to the Economic Times. The company earlier planned to sell 185.3 million shares. In an OFS, existing investors sell part of their stake.
Bengaluru-based Swiggy is expected to announce its IPO price band on Wednesday. The firm would issue shares in the price band of Rs 371-390 per share, according to the media reports. At the upper end, the firm’s valuation would be $11.3 billion.
Prosus, the largest investor in Swiggy, has trimmed its stake to 109.1 million shares from 118.2 million.
Swiggy plans to allocate 20 per cent higher capital to its quick commerce business, at Rs 1,179 crore, according to the RHP. This is up from Rs 982 crore mentioned in the draft RHP.
Swiggy, the food and grocery delivery company, on Tuesday filed a red herring prospectus (RHP) with the market regulator for its Rs 11,300-crore initial public offering (IPO).
The company reportedly increased the targeted primary fundraising through issuance of new shares to Rs 4,499 crore, from its earlier plan of Rs 3,750 crore. In the offer for sale (OFS) window, the company will sell 175.1 million shares, according to the Economic Times. The company earlier planned to sell 185.3 million shares. In an OFS, existing investors sell part of their stake.
Bengaluru-based Swiggy is expected to announce its IPO price band on Wednesday. The firm would issue shares in the price band of Rs 371-390 per share, according to the media reports. At the upper end, the firm’s valuation would be $11.3 billion.
Prosus, the largest investor in Swiggy, has trimmed its stake to 109.1 million shares from 118.2 million.
Swiggy plans to allocate 20 per cent higher capital to its quick commerce business, at Rs 1,179 crore, according to the RHP. This is up from Rs 982 crore mentioned in the draft RHP.
Stay Connected, Stay Informed –
Don’t miss out on exclusive updates, market trends, and real-time investment opportunities. Be the first to know about the latest unlisted stocks, IPO announcements, and curated Fact Sheets, delivered straight to your WhatsApp.