Swiggy shareholders approve delivery company’s plan to raise Rs 10,000 crore via QIP

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Shareholders of food and grocery delivery company rel=”dofollow” href=”https://economictimes.indiatimes.com/swiggy-ltd/stocks/companyid-2232501.cms” target=”_blank”>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…



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Swiggy shareholders approve delivery company’s plan to raise Rs 10,000 crore via QIP



Shareholders of food and grocery delivery company rel=”dofollow” href=”https://economictimes.indiatimes.com/swiggy-ltd/stocks/companyid-2232501.cms” target=”_blank”>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…



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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