Swiggy Restricted, meals supply and fast commerce firm, filed its Draft Crimson Herring Prospectus (DRHP) for an Preliminary Public Providing (IPO).
The IPO includes contemporary problem of ₹3,750 crore and a suggestion on the market of 18.5 crore shares. The online proceeds could be used for repaying borrowings in Scootsy, the logistics subsidiary of Swiggy, funding in darkish shops and fast commerce, advertising and promotion. As well as, the corporate plans to fund unidentified acquisitions, the corporate stated in its DRHP.
The corporate plans to spend about ₹980 crore, largest expense, on increasing darkish retailer community in its fast commerce enterprise. Zomato is the one different listed peer for Swiggy. The corporate posted a lack of ₹2,350 crore in fiscal 2024,, 44% decrease than the lack of ₹4,179 crore a yr earlier.
Printed – September 27, 2024 08:35 pm IST
