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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
SoftBank Continues Selldown Trend, Trims 2% Stake in India’s Paytm
SoftBank Group has divested an additional 2% of its stake in Paytm, extending the trend of selldowns in the Indian digital payments firm. This move follows recent exits by Warren Buffett’s Berkshire Hathaway and Alibaba Group. As of January 20, SoftBank now holds a 5.06% stake in Paytm. Details about the deal value and the buyers remain undisclosed. Over the…
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