Swiggy’s Board Approves INR 10,000 Cr Fundraise

by · Inc42

SUMMARY

  • Swiggy’s board has approved the company’s plan to raise INR 10,000 Cr (about $1.1 Bn) in funding via a mix of public or private market issuances
  • The fundraise may be carried out in one or more tranches, including via a qualified institutions placement (QIP) or any other method allowed under Indian regulations
  • Swiggy’s fundraise plan is yet to be approved by its shareholders. The company would be conducting an EGM to seek shareholder approval soon.