Swiggy, a food and grocery delivery company has received the nod from shareholders for its initial public offering (IPO), as per regulatory filings.
The 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.
The leading food delivery platform is aiming to raise approximately Rs 750 Cr from anchor investors in a pre-IPO round despite not having filed its IPO documents with the country’s capital markets regulator the Securities and Exchange Board of India (Sebi), as of yet.
“…the consent and approval of the shareholders of the company be and is hereby according to create, issue, offer, allot and/or transfer of its equity shares up to an aggregate of Rs 37,501 million by way of a fresh issue of equity shares and an offer for sale of such number of equities shares up to an aggregate amount of Rs 66,640 million by certain existing shareholders…,” the filing read as reported by ET.
According to a report by ET, the special resolution was passed at an extraordinary general meeting (EGM) of Swiggy’s shareholders on April 23.
Link to article –
Swiggy IPO: Food-delivery company gets shareholders’ nod for $1.2 billion public offering this year
