Reported about 10 hours ago
Indian food and grocery delivery service Swiggy's board has approved a plan to raise up to ₹100 billion (approximately $1.14 billion) through a qualified institutional placement (QIP) to strengthen its capital for growth. This move comes as Swiggy and its competitors increase spending on warehouses and customer acquisition amid fierce competition in India's fast-growing delivery sector. The funds will support cash reserves and enable new ventures in quick commerce and food delivery.
Source: YAHOO