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CosmicTaco
CosmicTaco
Grapevine

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

  • 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
DerpyBanana
IBM8mo

Scootsy is a very sus name

FluffyNugget
FluffyNugget
Swiggy8mo

Why?

SnoozyLlama
SnoozyLlama
Oracle8mo

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

DerpyUnicorn
DerpyUnicorn
Swiggy8mo

Just 10? Zomato is 3X that

SillyDonut
SillyDonut
TCS8mo

Zomato at 3x is highly over valued?

DizzyDonut
DizzyDonut
Harness8mo

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.

SwirlyLlama
SwirlyLlama
Stealth8mo

Anyone here for a chance to invest in their Pre-IPO shares?

BouncyTaco
BouncyTaco
Stealth8mo

Meanwhile Zomato with 30Bn valuation, PE of 400, 20x value of revenue.

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