Swiggy Shareholders Approve Fresh Issue Size Increase to INR 5,000 Cr

• Swiggy received shareholders' approval to increase fresh issue size to INR 5,000 Cr.
• The foodtech major aims to raise $1.4 Bn through its IPO, at a likely valuation of $15 Bn.
• The IPO will also include an offer for sale component of 18.53 Cr shares.
• US-based asset manager Invesco recently marked up Swiggy’s valuation to $13.3 Bn.
• Despite widening net loss, Swiggy’s revenue from operations increased 35% due to strong growth in food delivery and quick commerce businesses.

Source: Inc42