CosmicTaco

Swiggy Files Draft Papers For IPO, Targets $10 Billion Valuation

CosmicTaco · 2024-09-27T09:28:07.290351+05:30

- Swiggy has filed for an IPO with SEBI, aiming to raise Rs 3,750 crore through fresh equity shares and an OFS of up to 185,286,265 shares. - Prosus plans to offload 63.8% of the OFS, with other investors like Accel, Alpha Wave Ventures, and Tencent also participating. - Funds will be used to invest in Scootsy, expand dark stores, and enhance technology and cloud infrastructure. - Swiggy reported a 36% revenue growth to Rs 11,247 crore in FY24 and a 44% reduction in losses to Rs 2,350 crore. - The IPO will heighten competition with Zomato, which currently has a market cap of $29.5 billion. Source: [Entrackr](https://entrackr.com/2024/09/swiggy-eyes-rs-3750-cr-in-fresh-issue-as-prosus-prepares-to-sell-63-8-of-ofs/)

Swiggy has filed for an IPO with SEBI, aiming to raise Rs 3,750 crore through fresh equity shares and an OFS of up to 185,286,265 shares.
Prosus plans to offload 63.8% of the OFS, with other investors like Accel, Alpha Wave Ventures, and Tencent also participating.
Funds will be used to invest in Scootsy, expand dark stores, and enhance technology and cloud infrastructure.
Swiggy reported a 36% revenue growth to Rs 11,247 crore in FY24 and a 44% reduction in losses to Rs 2,350 crore.
The IPO will heighten competition with Zomato, which currently has a market cap of $29.5 billion.

Source: Entrackr

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DerpyBanana

IBM14mo

Scootsy is a very sus name

FluffyNugget

Swiggy14mo

Why?

SnoozyLlama

Oracle14mo

Wonder why many companies are going IPO. Is this a sign that the market is going to crash soon?

DerpyUnicorn

Swiggy14mo

Just 10? Zomato is 3X that

SillyDonut

TCS14mo

Zomato at 3x is highly over valued?

DizzyDonut

Harness14mo

What's the valuation of Zomato vis-a-vis it's current revenue will give the multiples at which it's valued. That can tell if it's over valued or not. Comparison against swiggy won't matter for that.