An extraordinary general meeting of shareholders gave the food delivery firm’s management the option of increasing the size of its fresh issuance in the upcoming IPO.
Food delivery startup Swiggy, which recently filed papers for a public listing, has received shareholders’ approval to increase the size of its primary offering from Rs 3,750 crore ($440 million) to Rs 5,000 crore ($595 million), according to a Moneycontrol report.
Earlier, the IPO size was said to be around Rs 12,000 crore—Rs 3,750 crore of fresh issuance and an offer for sale of around Rs 8,400 crore. So, now, the fresh issuance can be increased by Rs 1,250 crore if the company deems it necessary. There is no official word on the offer-for-sale component, though the report pegs …
Sethu writes on all things technology at The Morning Context. He previously worked as a senior sub-editor at Indian Express.
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