Comments
Swiggy, the Indian food delivery giant, recently raised $605 million by selling shares to institutional investors, including well-known names like Fidelity and Norges Bank.
This funding move marks a significant step as Swiggy prepares for a $1.35 billion initial public offering (IPO), expected to be India’s second-largest IPO this year. The share sale reflects strong institutional interest in Swiggy’s stock, underscoring confidence in the company’s growth potential and market position.
In addition to Fidelity and Norges, domestic mutual funds have also shown keen interest in Swiggy’s offering, collectively purchasing shares worth $246 million, as noted in a stock exchange filing by Swiggy.
This local support from mutual funds further strengthens Swiggy’s financial backing as it moves toward its IPO, which has generated widespread anticipation in India’s financial markets.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.