Swiggy plans to boost $1.25 billion in an preliminary public providing and has secured approval from its shareholders, the Indian meals supply and immediate commerce startup disclosed in a submitting to the native regulator.
The Bengaluru-headquartered startup plans to boost $450 million by issuance of latest shares, and supply $800 million of shares from present backers within the IPO, it wrote in a submitting to Ministry of Company Affairs.
The Indian startup ecosystem has been eagerly anticipating Swiggy’s public debut, which is slated for later this 12 months. Swiggy counts Prosus, Accel, SoftBank and Invesco amongst its backers.
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