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Swiggy IPO : Online food ordering and delivery company Swiggy may launch its IPO in November . According to the ET report, the company's IPO has been approved by the Securities and Exchange Board of India (SEBI). Started in 2004, Swiggy is headquartered in Bangalore and operates in more than 580 cities. Swiggy has the support of investors like Prosus, Softbank, and Excel. As of August 2023, its valuation was $9.3 billion (about Rs 77700 crore). It had confidentially applied for IPO with SEBI on 30 April.
What could be the size
According to a Business Standard report, Swiggy is planning to raise Rs 11,000 crore through an IPO. New shares worth Rs 5,000 crore may be issued in this. Many high-profile people have bought stakes in Swiggy ahead of its public issue.
According to an August report by ET, Bollywood superstar Amitabh Bachchan's family office had bought a stake in Swiggy. The report said that Motilal Oswal Financial Services chairman Raamdeo Agrawal has also bought a stake in Swiggy.
And who placed their bets?
Madhuri Dixit and Innov8 founder Ritesh Malik have invested in Swiggy. Both have bought shares worth Rs 1.5 crore from the secondary market. If everything goes as planned, Swiggy will become the second food delivery company to be listed on the stock exchange after Zomato.
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