Food tech giant Swiggy on September 26 filed its first updated draft red herring prospectus (DRHP) with market regulator Sebi. The fresh issue component is worth Rs 3,750 crore, while the offer for sale will comprise 18.53 crore shares. The SoftBank-backed company also revealed that existing shareholders, including Accel India and Tencent Europe, will sell 18.53 crore shares through the offer-for-sale (OFS), making this IPO one of India's biggest listings in 2024. Swiggy's rival Zomato went public in 2021.

Prosus (32 percent), SoftBank (8 percent), Accel (6 percent) are the major investors in Swiggy. Elevation Capital, DST Global, Norwest, Tencent, Qatar Investment Authority (QIA), Singapore's GIC, among many others are the other shareholders in the company. Companies selling shares in the OFS route Companies selling shares in the OFS route include Accel India IV (Mauritius) Limited, Appoleto Asia Limited, Alpha Wave Ventures, LP, Coatue PE Asia XI LLC, DST Euroasia V BV, Elevation Capital V Limited, Inspired Elite Investments Limited, MIH India Food Holdings BV, Norwest Venture Partners VII-A Mauritius and Tencent Cloud Europe BV. Funds raised from Swiggy's Rs 3,750 crore IPO will be primarily used to expand its quick commerce segment and strengthen its infrastructure. Its subsidy of Rs 137.41 crore will be allocated towards Scootsy's debt repayment, while Rs 982.40 crore will be invested in expanding Scootsy's dark store network.