Swiggy has received approval from SEBI for its confidential IPO filing, according to sources reported by Moneycontrol. The IPO may launch in November, though no final decision has been made yet. Swiggy is expected to raise over $1 billion through the initial public offering.
Founded in 2014, Swiggy partners with over 150,000 restaurants across India for food delivery services.
The company may target a valuation of around $15 billion for the IPO. In April, Swiggy’s shareholders approved the company’s plans to launch an IPO.
Swiggy reported a revenue of ₹5,476 Crore and a loss of ₹1,600 Crore during the first three quarters of FY24.
The company’s food delivery segment is profitable, while its grocery delivery arm, Instamart, continues to incur losses. Swiggy’s main competitor, Zomato, currently has a market valuation of approximately $27-28 billion.
Related Tags
IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000
IIFL Securities Support WhatsApp Number
+91 9892691696
www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.
Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.
Invest wise with Expert advice