Swiggy gets shareholder nod to raise Rs 10,000 Cr via QIP

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Food and quick commerce major Swiggy has secured shareholder approval to raise up to Rs 10,000 crore via a Qualified Institutional Placement (QIP), opening the door to one of the largest equity raises by an internet-era company in India. 

The special resolution was passed at an Extraordinary General Meeting (EGM) held on December 8, after the board had cleared the proposal on November 7.  According to the stock exchange filing, 99.47% of votes cast were in favour of the plan. With this approval in place, the issuance can proceed as soon as this…



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Swiggy gets shareholder nod to raise Rs 10,000 Cr via QIP


Food and quick commerce major Swiggy has secured shareholder approval to raise up to Rs 10,000 crore via a Qualified Institutional Placement (QIP), opening the door to one of the largest equity raises by an internet-era company in India. 

The special resolution was passed at an Extraordinary General Meeting (EGM) held on December 8, after the board had cleared the proposal on November 7.  According to the stock exchange filing, 99.47% of votes cast were in favour of the plan. With this approval in place, the issuance can proceed as soon as this…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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