Swiggy gets Sebi nod for $1.25-billion IPO
market regulator for its proposed $1.25-billion public issue, investment banking sources told ET, reflecting the growing appetite for new-age investment choices in a country witnessing an unprecedented consumer boom.
The Bengaluru-based company had filed draft papers for the IPO with the Securities and Exchange Board of India (Sebi) through the confidential filing route in April this year.
Swiggy will now need to file an updated draft red herring prospectus (UDRHP) with the market regulator. A 21-day period will be provided for the public to give feedback on the UDRHP before launching the IPO.
The IPO is expected to raise ₹3,750 crore ($450 million) in fresh capital, along with an offer-for-sale (OFS) component of up to ₹6,664 crore ($800 million). The size could be increased before the launch, said bankers.
Major investors such as Prosus, Swiggy's largest shareholder with a 33% stake, and SoftBank are likely to sell part of their holdings through the OFS.
Stock Trading
Market 101: An Insight into Trendlines and Momentum
By — Rohit Srivastava, Founder
Stock Trading
Markets 102: Mastering Sentiment Indicators for Swing and Positional Trading
By — Rohit Srivastava, Founder
Stock Trading
Market 103: Mastering Trends with RMI and Techno-Funda Insights
By — Rohit Srivastava, Founder
Stock Trading
Market 104: Options Trading: Kickstart Your F&O Adventure
By — Saketh R, Founder- QuickAlpha, Full Time Options Trader
Stock Trading
ROC Made Easy: Master Course for ROC Stock Indicator
By — Souradeep Dey, Equity and Commodity
