Food delivery major Swiggy raises Rs 5,085 crore from anchor investors

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Food delivery major Swiggy raises Rs 5,085 crore from anchor investors - Business Standard

Quick Summary:

In FY24, Swiggy’s loss narrowed to Rs 2,350 crore from Rs 4,179 crore in FY23.

Among those who received an allotment in the anchor category were ICICI Prudential Mutual Fund, HDFC Life, SBI Life, and global mutual funds including Capital, Fidelity, Amundi, BlackRock, and Schroders.

Swiggy will use the fresh proceeds for the expansion of its dark store network, investment in technology and cloud infrastructure, brand marketing and business promotion, and funding inorganic growth.