The fresh issue size for Swiggy’s IPO has been revised to Rs 4,499 crore, an increase from the previously proposed Rs 3,750 crore, yet still within the board-approved limit of Rs 5,000 crore.
The Swiggy Seal program is part of the company's broader effort to build trust among consumers and help restaurant partners uphold high hygiene standards.
This fleet, which consists of electric vehicles (EVs), is designed to handle large food orders in a single trip, enhancing the efficiency of food delivery.
According to the DRHP the proceeds of the IPO will be used for investment in its subsidiary Scootsy, for expansion of its dark store network for its quick commerce segment, setting up dark stores, investment in technology and cloud infrastructure and funding its inorganic growth.
The Bengaluru-based company aims to raise over $1 billion through the IPO, pending approval from India’s Securities and Exchange Board of India (SEBI).
The decision to increase the fundraising target will be discussed at an extraordinary general meeting (EGM) scheduled for October 3, according to a formal notice sent to shareholders.
Swiggy’s recent feature updates, including Group Ordering, Eatlists, Explore Mode, and Similar Carts, demonstrate the company’s ongoing efforts to enhance user engagement and convenience on the platform.
In comparison, Zomato’s overall revenue for FY24 surged by 71 percent to Rs 12,114 crore. Of this, Rs 6,161 crore came from its food delivery business, while Blinkit added Rs 2,301 crore from quick commerce.