Swiggy shareholders give nod to $1.2-billion IPO: What we know so far

Swiggy IPO: Swiggy received approval from shareholders for a $1.2-billion initial public offering (IPO), as per regulatory filings with the registrar of companies (RoC), Moneycontrol reported. Through the issue, the company plans to raise up to ₹3,750 crore (around $450 million) through a fresh issue and ₹6,664 crore (around $800 million) as an offer-for-sale (OFS) component.

Swiggy IPO: Swiggy’s IPO is likely to open for subscription sometime this year, several reports have claimed.

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The company has been preparing for the IPO since last year.

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What are Swiggy’s plans through the IPO?

Additionally, it was earlier reported that the company plans to raise around ₹750 crore from anchor investors ahead of its IPO, as per the filings sourced via Tofler and TheKredible.

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What has Swiggy said so far on its IPO?

The company said in its regulatory filing made after the Extraordinary General Meeting (EGM), as per the report, "...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 ₹37,501 million by the way of a fresh issue of equity shares up to an aggregate amount of ₹66,640 million by certain existing shareholders (OFS).”

When will Swiggy open its IPO?

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Swiggy’s IPO is likely to open for subscription sometime this year, several reports have claimed.

How are Swiggy’s financials ahead of the IPO?

Swiggy recorded a $207 million loss for the nine months to December 2023 against a revenue of $1.02 billion during the same period. In fiscal year 2022-23 revenue was at $1.05 billion, it was reported.

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