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Food and grocery delivery platform Swiggy has filed its draft papers with Securities and Exchange Board of India (SEBI) to raise funds through an initial public offering (IPO).
The company plans to raise ₹3,750 crore via fresh issue component, and the existing shareholders will offload up to 18.53 crore equity shares through offer-for-sale route.
Existing shareholders, including Accel India and Tencent Europe, will sell 1.05 crore and 63.27 lakh equity shares, respectively.
Other corporate shareholders planning to sell shares include Apoletto Asia Ltd., which will offload up to 16.97 lakh shares; Alpha Wave Ventures, LP, 55.73 lakh shares; Coatue PE Asia XI LLC, 38.85 lakh shares; and DST EuroAsia V B.V., 56.21 lakh equity shares.
Additionally, Elevation Capital V Ltd., Inspired Elite Investments Ltd., MIH India Food Holdings B.V., and Norwest Venture Partners VIIA-Mauritius will sell up to 73.96 lakh, 67.47 lakh, 11.82 crore, and 64.06 lakh shares, respectively.
In the first three quarters of the financial year 2024, the company reported a revenue of ₹5,476 crore and a loss of ₹1,600 crore.
Swiggy, backed by investment group Prosus, and Japan’s SoftBank, competes with Zomato in India’s online restaurant and cafe food deliveries sector.
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