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Business
Swiggy Targets Rs 3,750 Crore in IPO, Set for Major Indian Listing
Swiggy, the food delivery giant backed by SoftBank, announced on Thursday its plan to raise Rs 3,750 crore ($448.56 million) through its upcoming initial public offering (IPO). This move positions the company for one of India’s largest stock market debuts this year. According to Swiggy’s draft prospectus, existing investors such as Accel India and Tencent Europe will offload around 185.3…
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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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