SoftBank-Backed Swiggy Files for Initial Share Sale in India [Financial Post (Toronto, Ontario, Canada)]
Wells Fargo & Company (WFC)
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Source: Financial Post
Author of the article: You can save this article by registering for free here . Or sign-in if you have an account. (Bloomberg) — Indian food-delivery platform Swiggy Ltd. filed documents for an initial public offering in what is expected to be one of the nation's biggest this year. 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 In
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Earnings
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Sec Filings
- 9/20/24 - Form 424B2
- 9/19/24 - Form 424B2
- 9/19/24 - Form 424B2
- WFC's page on the SEC website