Swiggy’s IPO worth Rs 11,324 crore is open until November 8, with a price range of Rs 371-390 per share and a minimum lot size of 38 shares. Institutional investors like Accel India and Norwest Venture Partners are selling portions of their holdings, with the funds supporting debt repayment and expansion. Despite being unprofitable, Swiggy’s growth potential in the quick commerce sector makes the IPO attractive for long-term investors.
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India-Maldives joint military exercise begins
The 13th edition of joint military exercise 'Ekuverin' between the Indian Army and Maldives National Defence Force commenced, focusing on counter insurgency, counter terrorism, and humanitarian assistance over a 14-day period to enhance interoperability. The opening ceremony was attended by Maldives Defence Chief Major General Ibrahim Hilmy and Indian High Commissioner G Balasubramanian. Full Article
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