Swiggy IPO may launch for public subscription between November 6 to 8, see other details: Report

October 27, 2024

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October 27, 2024 0 comment

Oct 27, 2024 08:19 AM IST

Swiggy may launch its Initial Public Offering (IPO) for public subscription between November 6 to 8 with the anchor book portion scheduled for November 5

Swiggy may launch its Initial Public Offering (IPO) for public subscription between November 6 to November 8 with the anchor book portion scheduled for November 5, Moneycontrol reported, citing multiple unnamed sources. HT couldn’t independently verify the information.

4,500 crore(Instagram/@swiggyindia)” title=”Swiggy is targeting a $11.3 billion IPO valuation at the upper end of the price band and the primary component of the issue has been upsized to about ₹4,500 crore(Instagram/@swiggyindia)”>

Swiggy is targeting a $11.3 billion IPO valuation at the upper end of the price band and the primary component of the issue has been upsized to about ₹4,500 crore(Instagram/@swiggyindia)

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Swiggy is targeting a $11.3 billion IPO valuation at the upper end of the price band and the primary component of the issue has been upsized to about ₹4,500 crore, according to the report, which added that the combined IPO size may be between ₹11,700 crore to ₹11,800 crore.

The updated draft red herring prospectus – I says that the IPO has a fresh issue component of ₹3,750 crore and an offer for sale (OFS) of up to 182,286,265 equity shares.

Swiggy’s primary rival is Zomato and these two together almost hold a duopoly in the food delivery business. Zomato is already listed, having gone for a ₹9,375 crore IPO with its shares lately soaring as much as 136.68% in the last year, the report read.

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When it comes to quick commerce, Swiggy’s Instamart competes with Zomato’s Blinkit, Zepto, and Tata’s BigBasket.

However, Zomato is also looking to raise funds, but through the Qualified Institutional Placement (QIP) route.

Currently, Prosus (32%), SoftBank (8%) and Accel (6%) are the key investors in Swiggy while Elevation Capital, DST Global, Norwest, Tencent, Qatar Investment Authority (QIA), and Singapore’s GIC, among multiple others are also shareholders.

Swiggy filed its IPO documents through the confidential filing route on September 24, which is a concept allowing companies to keep the offer document private until it firms up on its IPO plan.

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Swiggy may launch its Initial Public Offering (IPO) for public subscription between November 6 to 8 with the anchor book portion scheduled for November 5

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Copyright 2024 - All Rights Reserved - Janashakti.News

Swiggy IPO may launch for public subscription between November 6 to 8, see other details: Report

Swiggy may launch its Initial Public Offering (IPO) for public subscription between November 6 to 8 with the anchor book portion scheduled for November 5

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