Swiggy IPO: Accel, Prosus, Elevation, Alpha wave to sell part stakes

Swiggy’s early investors including Accel, Alpha Wave, Elevation Capital and Prosus are selling some of their stake under the offer for sale option in the food delivery startup’s upcoming initial public offering, its draft red herring prospectus indicated.

While the others include Norwest and Tencent, the IPO involves a combination of fresh issue of equity shares worth ₹3,750 crore and an offer-for-sale of 185,286,265 equity shares by the existing shareholders.