As per the DRHP, Swiggy’s public issue will comprise a fresh issuance of shares worth INR 3,750 Cr and an OFS component of 18.53 Cr equity shares
Investors such as Accel, Coatue, Alpha Wave, Elevation, Norwest and Tencent will sell shares as part of the OFS component
This comes days after reports surfaced that SEBI approved the DRHP filed by the foodtech major via confidential route
Foodtech giant Swiggy
on Thursday (September 26) filed its first updated draft red herring prospectus (DRHP) with market regulator Securities and Exchange Board of India (SEBI) for an INR 3,750 Cr initial public offering.
As per the DRHP, Swiggy’s public issue will comprise a fresh issuance of shares worth INR 3,750 Cr and an offer for sale (OFS) component of 18.53 Cr equity shares.
Factoring in the recent reported share purchases at around INR 350 apiece, the OFS component will be pegged at around INR 6,485 Cr. As a result, the total size of the company’s IPO will likely be around INR 10,000 Cr.
Investors such as Accel, Coatue, Alpha Wave, Elevation, Norwest and Tencent will sell shares as part of the OFS component. While Accel India IV (Mauritius) Ltd will offload 1.05 Cr shares, Alpha Wave Ventures will dump 55.73 Lakh shares as part of the OFS component.
This comes days after reports surfaced that SEBI approved the DRHP filed by the foodtech major via confidential route.
Founded in 2014 by Sriharsha Majety, Nandan Reddy, Phani Kishan Addepalli, and Rahul Jaimini, Swiggy started off as a food delivery startup but later forayed into the quick commerce segment with Instamart.
(This story will be updated soon.)
By Inc42 Media
Source: Inc42 Media