Swiggy targets USD 15 billion valuation in year’s biggest IPO

NEW DELHI: Food delivery giant

Swiggy

is targeting a valuation of around $15 billion for its upcoming

stock market

offering to raise $1-1.2 billion, people familiar with the matter said. The deal would make it one of biggest Indian IPOs this year.

Zomato

has a market valuation of around $28 billion – its shares have more than doubled since listing in 2021.

Swiggy said in response to a Reuters query that it could not comment on “any

market speculation

“. Its last funding round, led by Invesco in 2022, valued it at $10.7 billion.