Swiggy to raise IPO size to Rs 5000 crore

Foodtech major Swiggy has made a provision to raise an additional sum of ₹1,250 crore through its initial public offer.

The company has reportedly received shareholder approval to increase the size of the primary issue from ₹3,750 crore to ₹5,000 crore at an extraordinary general meeting on October 3.

The offer for sale component remains unchanged at an estimated ₹6,664 crore.

The company in its draft prospectus has said that corporate selling shareholders will offer 18.52 lakh shares.