Swiggy gets shareholder nod to use provision to upsize IPO fresh issue

SoftBank-backed Indian food delivery company Swiggy received shareholders’ approval to use a provision that will allow it to increase the size of fresh issue in its IPO to Rs 5,000 crore ($595 million) from Rs 3,750 crore, people aware of the matter told Reuters on Thursday.

India’s red-hot IPO market has already seen around 250 companies raise over $9 billion so far this year, more than double the amount raised in the same period last year, as per LSEG data.