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  3. Swiggy Gears Up to File its Draft Red Herring Prospectus by September

Swiggy Gears Up to File its Draft Red Herring Prospectus by September

20 Aug 2024

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Key Takeaways

Swiggy's Rs 10,400 crore IPO, set for September,  Updated DRHP is expected soon.

Swiggy's Rs 10,400 crore IPO, set for September,  Updated DRHP is expected soon.

Swiggy

Swiggy

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Expert Analysis

Swiggy Gears Up to File its DRHP for a Rs 10,400 Crore IPO By September.

Expert Analysis:

  • IPO Filing Plans: Swiggy plans to file its DRHP by early September, aiming to raise Rs 10,400 crore through its IPO, potentially making it the second venture capital-backed startup after Paytm to exceed Rs 10,000 crore in a public listing.

  • Confidential SEBI Filing: Swiggy filed documents confidentially with SEBI for the Rs 10,400 crore IPO, using SEBI’s confidentiality route, allowing private preliminary filings and flexibility in adjusting fresh shares by up to 50% until an updated DRHP is submitted.

  • Shareholder Approval: In April, Swiggy secured shareholder approval for an IPO, including a fresh issue of Rs 3,750 crore, an offer for sale worth Rs 6,664 crore, and a pre-IPO order of around Rs 750 crore.

Publisher:Outlook Business