Overview
- The board approved raising up to Rs 10,000 crore through qualified institutional placement or other permitted public and private offerings.
- Swiggy said the issuance may be executed in one or more tranches and will proceed only after required regulatory and shareholder approvals.
- The decision was disclosed in a regulatory filing following the November 7 board meeting, with submissions made to the BSE and NSE.
- Swiggy expects its cash position to be strengthened by a planned Rs 2,400 crore divestment of Rapido, as earlier communicated to shareholders.
- Shares rose about 1% to Rs 407.95 in early trade on the day of the announcement, with the stock down roughly 25% in 2025 yet still above its IPO price and a market capitalization near Rs 1.01 lakh crore.