Swiggy gets Sebi nod for proposed $1.25 billion IPO
Swiggy has received approval from the market regulator for its proposed $1.25 billion public issue, according to sources. 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 (DRHP) 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 Rs 3,750 crore ($450 million) in fresh capital, along with an offer-for-sale (OFS) component of up to Rs 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. Other key shareholders include Accel, Elevation Capital, Meituan, Tencent, Norwest Venture Partners, DST Global, Coatue, Invesco, and GIC.
Artificial Intelligence(AI)
Java Programming with ChatGPT: Learn using Generative AI
By — Metla Sudha Sekhar, Developer and Lead Instructor
Artificial Intelligence(AI)
Basics of Generative AI: Unveiling Tomorrow's Innovations
By — Metla Sudha Sekhar, Developer and Lead Instructor
Artificial Intelligence(AI)
Generative AI for Dynamic Java Web Applications with ChatGPT
By — Metla Sudha Sekhar, Developer and Lead Instructor
Artificial Intelligence(AI)
Mastering C++ Fundamentals with Generative AI: A Hands-On
By — Metla
