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  3. Swiggy boosts marketing budget to over Rs 1000 crore in DRHP ahead of I…

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

4 Nov 2024

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Key Takeaways

Swiggy has increased its marketing budget to Rs 1,115.3 crore and aims to raise Rs 11,330 crore through its IPO, focusing on growth.

Swiggy has increased its marketing budget to Rs 1,115.3 crore and aims to raise Rs 11,330 crore through its IPO, focusing on growth.

Swiggy

Swiggy

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Expert Analysis

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.

Publisher:Best Media Info