Swiggy IPO: The Indian online food ordering and delivery platform, Swiggy, will launch its initial public offering for subscription on Wednesday, November 6, and it will conclude on Friday, November 8.
Swiggy IPO, comprises a fresh issue of ₹4,499 crore, and an offer-for-sale (OFS) of 175,087,863 equity shares by the corporate selling shareholders.
The company intends to allocate the net proceeds for investing in its Material Subsidiary, Scootsy, to manage debt and to expand its Dark Store network for the Quick Commerce segment by establishing Dark Stores
Swiggy is an innovative technology company focused on consumers, offering a convenient platform that can be accessed through a single app to explore, choose, order, and pay for food (Food Delivery), groceries
The board includes Anand Kripalu, Sriharsha Majety, Lakshmi Nandan Reddy Obul, Shailesh Vishnubhai Haribhakti, Sahil Barua, Suparna Mitra , Anand Daniel, Ashutosh Sharma , Sumer Juneja, Roger Clark Rabalais.
Swiggy Limited's revenue climbed by 34% and profit after tax (PAT) increased by 44% between the fiscal years ended March 31, 2024 and March 31, 2023.