Swiggy files DRHP for Rs 37.5 billion IPO

Swiggy has filed the DRHP for a Rs 37.5 billion IPO. The IPO comprises a fresh issue of Rs 37.5 billion and an OFS of 185.29 million equity shares by existing investors. Reportedly, it is expected that the company will upsize the fresh issue by Rs 50 billion, taking the aggregate to Rs 116 billion. The proceeds from the IPO are intended to be used by Swiggy for expansion of its quick commerce segment, cloud infrastructure, investment in its subsidiary Scootsy and funding inorganic growth.