Swiggy IPO ups primary fundraise to Rs 4,499 cr, cuts secondary share sale

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.