Food delivery major Swiggy gets one step closer to $1.25 billion IPO

Food delivery major Swiggy has received approval from its shareholders for a $1.2 billion initial public offering (IPO), according to filings made with the Registrar of Companies sourced by Tofler.

The Bengaluru-based firm plans to raise as much as Rs 3,750 crore (around $450 million) via a fresh issue and up to Rs 6,664 crore (around $800 million) through an offer-for-sale (OFS) component, the filings stated.

The company also aims to raise around Rs 750 crore from anchor investors ahead of its IPO, expected later this year.