Swiggy files documents with SEBI for IPO

Swiggy Limited, a food delivery and fast trading company, has filed a draft Red Herring Prospectus (DRHP) for an initial public offering (IPO).

The IPO comprises a fresh issue of ₹3,750 crore and an offer for sale of shares worth ₹18.5 crore. The net proceeds will be used to repay loans in Scootsy, Swiggy’s logistics subsidiary, invest in dark stores and fast trading, marketing and promotion. In addition, the company plans to finance unidentified acquisitions, the company said in its DRHP.

The company plans to spend around ₹ 980 crore, its biggest spend, on expanding its dark store network under its fast trading business. Zomato is the only other Swiggy partner mentioned in the list. The company reported a loss of ₹2,350 crore in FY24, 44% lower than the loss of ₹4,179 crore a year earlier.