SoftBank-Backed Swiggy Files for Initial Share Sale in India [BNN Bloomberg (Canada)]
NASPERS LTD S/ADR (NPSNY)
NASDAQ:AMEX Investor Relations:
naspers.com/news/publication-of-prospectus-and-expected-admission-o
Company Research
Source: BNN Bloomberg
Swiggy plans to sell 37.5 billion rupees ($448 million) of new shares, while its shareholders including funds affiliated to Naspers Ltd. and Norwest Venture Partners will sell as many as 185.3 million shares, according to its updated draft red herring prospectus. Nasper Ltd.'s MIH India Food Holdings BV has offered to sell as many as 118.2 million shares. Founded in 2014, Swiggy partners with more than 150,000 restaurants across India to help deliver food in the world's most populous nation, according to its website. It competes with companies including Zomato Ltd., e-commerce giant Amazon.com Inc.'s India unit and conglomerate Tata Group's BigBasket. READ: SoftBank-Backed Swiggy Said to Eye India IPO Filing This Week Swiggy's plan follows NTPC Green Energy Ltd.'s $1.2 billion filing last week for an initial share sale and underscores demand for bigger deals in the world's busiest market for listings. About $9 billion has been raised via IPOs in the South Asian nation this year
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