The Bengaluru-based company plans to raise up to Rs 3,750 crore (around $450 million) through a fresh issue and up to Rs 6,664 crore (around $800 million) as an offer-for-sale (OFS) component, according to reports
New Delhi: Bengaluru-based food tech company Swiggy has obtained approval from its shareholders for its upcoming $1.2-billion initial public offering (IPO).
India Business News: Swiggy, a food and grocery delivery company based in Bengaluru, has received approval from its shareholders for an initial public offering (IPO). According to regulatory filings, the company plans to raise up to Rs 3,750 crore ($450 million) through new shares, and another Rs 6,664 crore ($800 million) through an offer for sale.
At Third Wave Coffee, founder Sushant Goel transitioned to a board role after former KFC India head Rajat Luthra was roped in as chief executive, effective April 1. "The journey of starting up and getting the company at a certain scale is very different from taking it to the next level," said a venture investor with a global firm. "These changes are ultimately healthy in the sense that these startups are reaching a particular level."