Indian food delivery firm Swiggy increases IPO target to Rs 5,000 crore ($602 million) seeking shareholder approval on Oct 3.

Swiggy, the Indian food delivery firm, plans to increase its initial public offering (IPO) target to Rs 5,000 crore ($602 million) from Rs 3,750 crore, aiming for a total of $1.4 billion. This decision follows a 36% rise in operating revenue to Rs 11,247 crore and a 44% reduction in net loss to Rs 2,350 crore for the fiscal year ending March 2024. Shareholder approval will be sought on October 3, alongside a Rs 6,664 crore offer for sale.

September 10, 2024
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