Swiggy Ltd. is gearing up for one of its largest fund-raising moves yet, with plans to launch a ₹10,000 crore ($1.1 billion) share sale as early as next week, according to people familiar with the development.
The food delivery major has reportedly shortlisted Citigroup, JPMorgan Chase, and Kotak Mahindra Capital to manage the qualified institutional placement (QIP). Swiggy’s board cleared the proposal on November 7, subject to shareholder and regulatory approvals.
The final size and timing of the offering may still shift, sources noted. Swiggy and the involved banks have not yet responded to requests for comment.