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IPO-Bound Swiggy Facing INR 327 Cr GST Demand

Inc42 · 6m

Swiggy, an Indian food delivery platform, may have to pay INR 326.7 Cr in Goods and Services Tax (GST) liabilities. The Directorate General of GST Intelligence (DGGI) in Pune has alleged that Swiggy did not pay the tax on delivery fees collected from customers. In addition, the company's CEO, Sriharsha Majety, was sent a notice last year by the Deputy Labour Commissioner in Lucknow over accusations of employing child laborers. Swiggy is planning an initial public offering (IPO) that includes a fresh issuance of shares worth up to INR 3,750 Cr and an offer for sale (OFS) component of up to 18.53 Cr shares.