Swiggy QIP Oversubscribed 4.5X, Sees Strong Demand From Top Mutual Funds

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Swiggy’s INR 10,000 Cr qualified institutional placement (QIP) witnessed strong demand from investors and was oversubscribed 4.5X within an hour of opening, sources told Inc42. 

The capital would be raised at about INR 375 per share, a discount of about 4% to floor price of INR 390.51, the sources added. The company said yesterday that it would offer a discount of up to 5% to the floor price.

The QIP saw participation from top mutual funds, including SBI Mutual Fund, ICICI Prudential MF, HDFC MF and Kotak Mahindra MF. 

The fundraise comes…



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Swiggy QIP Oversubscribed 4.5X, Sees Strong Demand From Top Mutual Funds


Swiggy’s INR 10,000 Cr qualified institutional placement (QIP) witnessed strong demand from investors and was oversubscribed 4.5X within an hour of opening, sources told Inc42. 

The capital would be raised at about INR 375 per share, a discount of about 4% to floor price of INR 390.51, the sources added. The company said yesterday that it would offer a discount of up to 5% to the floor price.

The QIP saw participation from top mutual funds, including SBI Mutual Fund, ICICI Prudential MF, HDFC MF and Kotak Mahindra MF. 

The fundraise comes…



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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