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Swiggy opens QIP, sets floor price at Rs 390.51 per share
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Food and grocery delivery company Swiggy said that its board has approved the launch of its qualified institutional placement (QIP), through which it is looking to raise Rs 10,000 crore, according to a filing with the exchanges. Shareholders of the company had cleared the fundraise on Monday.
The company has set a floor price of Rs 390.51 per share for the placement, which is a 2% discount to its Tuesday closing price of Rs 397.95 on the BSE. Swiggy had gone public in November last year at a price of Rs 390 per share.
At the floor price, Swiggy will be…
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