Swiggy’s IPO plan includes Rs 5,000 cr fresh issue, exceeding initial aim

Food and grocery delivery firm Swiggy is preparing to seek approval from its shareholders for a fresh issue of Rs 5,000 crore as part of its upcoming IPO. This proposal will be discussed at an extraordinary general meeting (EGM) scheduled for October 3, as detailed in a notice sent to shareholders, according to a report by The Economic Times.

The planned amount exceeds the initial Rs 3,750 crore the company had aimed to raise, in addition to Rs 6,664 crore offer for sale. Swiggy has confidentially submitted its draft prospectus for the IPO to the Securities and Exchange Board of India (Sebi).