Shareholders of food and grocery delivery company Swiggy have approved its plan to raise Rs 10,000 crore via a qualified institutional placement, according to a regulatory disclosure.
According to people in the know, the shareholders’ nod is an enabling provision for the company’s capital raise plans, which could be launched as early as this week.
Typically, companies conducting QIP fundraises price the offering at discounts to market prices. Monday, Swiggy‘s stock ended trading at Rs 385.85 apiece, down 2.1% on the BSE.
Even at the current share…
