Swiggy boosts marketing budget to over Rs 1000 crore in DRHP ahead of IPO

Swiggy Increases Marketing Budget to Over Rs 1,000 Crore Ahead of IPO.

Expert Analysis:

• Increased Marketing Expenditures: Swiggy has increased its marketing and advertising expenditures in its updated DRHP submitted to SEBI.

• Revised Marketing Budget: The marketing budget has risen from Rs 929.5 crore to Rs 1,115.3 crore for advertising and promotions.

• IPO Price Band Announcement: The IPO price band is set at Rs 371-390 for the IPO, which will open from November 6-8. Investors must subscribe to a minimum of 38 shares and in multiples of 38 thereafter.

• Fresh Issue of Shares: At the upper end of the price band, Swiggy aims to garner up to Rs 11,330 crore from the issue, which will comprise a fresh issue of shares worth Rs 4,490 crore.

• Use of IPO Proceeds: Proceeds from the IPO will be used to repay up to Rs 250 crore in debt and invest in dark stores, technology, and branding.