Swiggy secures shareholder nod for a potential $1.2 billion IPO

Bengaluru-based Swiggy has received a go-ahead from its shareholders for its initial public offering (IPO), as per regulatory filings. The food and grocery delivery company plans to raise up to Rs 3,750 crore ($450 million) in fresh capital, in addition to an offer-for-sale (OFS) component of up to Rs 6,664 crore ($800 million), according to filings made with the Registrar of Companies.
Swiggy, which is yet to file its IPO documents with the country’s capital markets regulator Securities and Exchange Board of India (Sebi), is looking to shore up about Rs 750 crore from anchor investors in a pre-IPO round. Swiggy’s IPO is part of a set of new-age startups which are lining up to go public this year including the likes of omnichannel retailer Firstcry, Ola Electric, and Awfis, among others.