Swiggy gets shareholder approval for potential $1.2 billion IPO this year

According to regulatory filings, Swiggy has obtained approval from its shareholders for its initial public offering (IPO). The food and grocery delivery firm intends to raise up to Rs 3,750 crore ($450 million) in fresh capital alongside an offer-for-sale (OFS) segment of up to Rs 6,664 crore ($800 million), as outlined in submissions to the Registrar of Companies.

According to a report in The Economic Times (ET), Swiggy, which has not yet submitted its IPO documents to the Securities and Exchange Board of India (Sebi), aims to raise approximately Rs 750 crore from anchor investors in a pre-IPO round. Swiggy’s IPO is among a group of emerging startups preparing to go public this year, joining companies such as omnichannel retailer Firstcry, Ola Electric, and Awfis, among others.