Swiggy IPO: Sebi Approval, Funds Raised, & More

By By Rediff Money Desk, New Delhi
Sep 25, 2024 12:33
Swiggy, the food delivery giant, secures Sebi's approval for its highly anticipated IPO. Learn about the expected fundraising amount, key details, and the company's future plans.
Photograph: PTI Photo
New Delhi, Sep 25 (PTI) Food and grocery delivery major Swiggy has received capital markets regulator Sebi's clearance to launch its much anticipated Initial Public Offering (IPO), sources said on Wednesday.

Swiggy filed its offer document on April 30 through the confidential pre-filing route, keeping details undisclosed for the time being.

Under the confidential filing process, Swiggy will submit two updated draft prospectuses after Sebi's approval -- one addressing the regulator's feedback and the other for public comments over 21 days. Only then will the final prospectus be filed, and the company can launch roadshows for the IPO, sources said.

Swiggy, founded in 2014, had a valuation of nearly USD 13 billion in April.

The company's annual revenue stood at USD 1.09 billion as on March 31, 2023 and has more than 4,700 employees, according to Tracxn, a global startup data platform.

In April, sources had previously stated that Swiggy received shareholders' approval for an IPO to raise Rs 10,414 crore fund through issue of fresh equity shares and an Offer-For-Sale (OFS).

A special resolution was passed at an extraordinary general meeting of Swiggy on April 23, they stated.

According to sources, the Bengaluru-based company plans to raise up to Rs 3,750 crore funds through fresh equity shares, in addition to an OFS component of up to Rs 6,664 crore.

The company is looking to shore up about Rs 750 crore from anchor investors in a pre-IPO round, they had added.

Last week, Swiggy announced the launch of a new initiative "Project Next", aimed at providing career growth opportunities for its delivery partners while accelerating restaurant onboarding.
Source: PTI
Read More On:
revenueswiggyipofood deliveryvaluationindiainvestmentsebifundsstartupcapital marketsinitial public offeringgrocery delivery
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.

You May Like To Read

MORE NEWS

India-Pakistan Champions Trophy Match Breaks...

The India-Pakistan match at the ICC Champions Trophy on JioHotstar achieved a record...

India-Pakistan Champions Trophy Breaks...

The India-Pakistan Champions Trophy match in Dubai broke viewership records on...

CVC Sells 54% Stake in Healthcare Global...

Private equity firm CVC has sold a 54% stake in Healthcare Global Enterprises to KKR...

NTPC & EDF India Partner for Hydro, PSP...

NTPC and EDF India collaborate on pumped hydro storage, hydro projects, and...

Eupheus Learning Revenue Up, Losses Narrow in...

Eupheus Learning reports Rs 225 crore revenue in FY2024, driven by operational...

Delta Electronics Invests $500 Million in India...

Taiwan-based Delta Electronics is investing $500 million in India to expand its...

SBI Targets Net-Zero by 2055: Chairman Setty

State Bank of India (SBI) aims to achieve Net-Zero emissions by 2055, coinciding with...

HMPL Wins Rs 100 Crore Steel Contract in...

Hazoor Multi Projects Ltd (HMPL) has secured a Rs 102 crore contract to provide steel...

Sebi Expands Investor Pool for Angel Funds

Sebi proposes to broaden the definition of qualified institutional buyers (QIBs) for...

Tamil Nadu: Key Investment Hub - Robust Infra...

Tamil Nadu emerges as a major investment hub due to its robust infrastructure,...

Read More »

Sectoral Indices Market Indicators Listed Companies Gainers Losers Mutual Funds Portfolio Watchlist
© 2025 Rediff.com