Swiggy IPO receives tepid response on day 1 of issue; Issue booked 12%, retail investors bid highest: Latest GMP here | Stock Market News
Swiggy’s IPO includes a new offering worth ₹4,499 crore, along with an offer-for-sale (OFS) of 175,087,863 equity shares from the company’s selling shareholders.
In the OFS, the shareholders selling their stakes include Accel India IV (Mauritius) Ltd, Apoletto Asia Ltd, Alpha Wave Ventures, LP, Coatue PE Asia XI LLC, DST EuroAsia V B.V, Elevation Capital V Ltd, Inspired Elite Investments Ltd, MIH India Food Holdings B.V, Norwest Venture Partners VIIA-Mauritius, and Tencent Cloud Europe B.V.
The firm intends to use the net proceeds to invest in its primary subsidiary, Scootsy, fulfill its debt obligations, expand its network of dark stores in the quick commerce industry, and pay for lease or licensing fees associated with those dark stores.
