$15 Billion Valuation
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Business
Swiggy Targets Rs 5,000 Crore from IPO, Sets Sights on $15 Billion Valuation
Swiggy is gearing up to raise Rs 5,000 crore through its upcoming IPO, marking an increase from its earlier target of Rs 3,750 crore. The Bengaluru-based food and grocery delivery giant has reportedly approved a special resolution to issue equity shares worth up to Rs 5,000 crore, pending shareholder approval at its Extraordinary General Meeting (EGM) scheduled for October 3.…
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Business
Swiggy Reveals Rs 33 Crore Fraud by Former Employee in Annual Report
A former junior employee at Swiggy has allegedly stolen nearly Rs 33 crore over the course of several years, according to the company’s annual report for 2023-24. Swiggy, an online food delivery company based in Bengaluru, revealed the embezzlement in its report and has taken steps to address the issue. According to a report by *Moneycontrol*, Swiggy has hired an…
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