Swiggy's shares surged 15% on their debut after a successful IPO, raising ₹113.27 billion ($1.34 billion) and becoming India's second-largest listing this year. The IPO was oversubscribed over three times, with strong demand from institutional and retail investors. Analysts see potential growth for Swiggy's delivery arm, Instamart, despite challenges in profitability and competition in the quick commerce sector.
Varun Beverages, the largest bottler for PepsiCo in India, plans to raise up to Rs 7,500 crore through a qualified institutional placement (QIP) to strengthen its balance sheet and fund capacity expansion. The QIP is expected to launch next month, pending shareholder approval by November 8. The funds will support investments in subsidiaries, expand the product portfolio, and facilitate strategic acquisitions.
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