News > Swiggy’s Sriharsha Majety, investors sold shares worth INR 670 Cr ahead of IPO
Swiggy’s Sriharsha Majety, investors sold shares worth INR 670 Cr ahead of IPO
12/10/2024 05:37 PM | Click to read full article
Days before Swiggy filed its updated draft red herring prospectus (DRHP) with SEBI, Swiggy’s cofounder and group CEO sold 6,36,972 equity shares at INR 345 apiece to Torroz Fintech. He sold 29,695 shares at the same price to Torroz Fintech on September 23. Torroz Fintech also bought 4,326 Series B compulsorily convertible preference shares (CCPS) for INR 4.62 Lakh apiece from Swiggy’s investor Norwest Ventures Private Limited.