Swiggy to raise $1.2 bn via IPO

New Delhi: Online food delivery platform Swiggy is planning to file for an initial public offering (IPO) worth $1.2 billion this year after receiving an approval from its shareholders.

According to a regulatory filing, the company aims to raise up to Rs3,750 crore through a fresh issue and around Rs6,664 crore as an offer-for-sale (OFS) component. The regulatory filing, prepared after the extraordinary general meeting (EGM) of Swiggy on April 23, read that “the consent and approval of the shareholders of the company be and is hereby accorded to create, issue, offer, allot and/or transfer of its equity shares up to an aggregate of Rs 37,501 million by the way of a fresh issue of equity shares up to an aggregate amount of Rs 66,640 million by certain existing shareholders (OFS)”.