Swiggy Boosts IPO Size to Rs 5,000 Crore Amidst Fierce Market Competition

• Swiggy plans to increase its IPO size from Rs 3,750 crore to Rs 5,000 crore through a fresh issue of shares.
• The final decision will be made at the company's extraordinary general meeting on October 3.
• The total IPO size could reach $1.4 billion if the new proposal is approved.
• Rivals like Zomato and Blinkit have improved profitability, intensifying market competition.
• Swiggy's revenue grew 36 percent in FY24, while losses decreased by 44 percent.

Source: Moneycontrol