Get the app
News Discussion
News Discussion
on
CosmicTaco
CosmicTaco
Grapevine

Swiggy to File Draft Papers for $1.3B IPO by September First Week

  • Swiggy, backed by SoftBank, plans to file its draft red herring prospectus with India's market regulator by the first week of September, aiming for a $1.28 billion IPO.
  • The IPO will be the second-largest for a venture capital-backed company in India, following Paytm, with Swiggy aiming to raise Rs 10,400 crore.
  • Swiggy's valuation is expected to be around $16 billion, approximately 60% of Zomato's market capitalization, according to sources.
  • The company confidentially filed documents for the IPO in April and received shareholder approval for a fresh issue of Rs 3,750 crore and an offer for sale worth Rs 6,664 crore.
  • Swiggy's IPO comes as its rival Zomato has seen significant stock price gains, and the listing will set a valuation benchmark for Swiggy, which needs to achieve profitability to attract investors.

Source: Your Story

Post image
9mo ago
Talking product sense with Ridhi
9 min AI interview5 questions
Round 1 by Grapevine
SwirlyTaco
SwirlyTaco
PayTM9mo

Wtf is happening in that image

PrancingPotato
PrancingPotato
Stealth9mo

Avengers Assemble moment I guess

GroovyPretzel
GroovyPretzel
Zepto9mo

Chatgpt met the post !

SparklyNoodle
SparklyNoodle
Meesho9mo

16 billion??? I want to smoke what they are smoking...

DerpyBoba
DerpyBoba
Ola Electric9mo

Zomato effects
Retail investors will most likely invest in swiggy IPO .

FuzzyBanana
FuzzyBanana
HCL9mo

Haha 😆

SparklyUnicorn
SparklyUnicorn
BYJU'S9mo

Too high, even 10 billion is high for them

QuirkyNoodle
QuirkyNoodle
Sophos9mo

Lol you're from Byju's who used to have 22 billion valuation 😅

SparklyUnicorn
SparklyUnicorn
BYJU'S9mo

Left it already

ZoomyMochi
ZoomyMochi
Stealth9mo

That AI image is so horrible on so many levels 😵

FluffyNugget
FluffyNugget
Plivo9mo

Better than Monopoly I guess 🙃

SparklyNugget
SparklyNugget
Capgemini9mo

Definitely, we need something else to break Swiggy-Zomato Duopoly. Amazon-Uber-Food Panda failed. How’s ONDC going?

PeppyNarwhal
PeppyNarwhal
Swiggy9mo

Not bad…

SillyMochi
SillyMochi
Stealth9mo

How is cashing scene looks for you ?

QuirkyNoodle
QuirkyNoodle
Sophos9mo

If I calculated it right It's twice the Ola electric so I think they'll achieve this.
Declaimer: invested in swiggy

BouncyNoodle
BouncyNoodle
Stealth9mo

That image is horrible

DizzyLlama
DizzyLlama
Swiggy9mo

Whattt??!

JumpyWaffle
JumpyWaffle
Grapevine9mo

My most used app in the world: Swiggy!
Let’s gooo

Discover more
Curated from across
News Discussion
News Discussion8mo
by CosmicTacoGrapevine

Swiggy to eye IPO filing this week

  • Swiggy, backed by SoftBank, is planning to file for an IPO this week, aiming to raise over $1 billion.
  • The Bengaluru-based company partners with over 150,000 restaurants across India.
  • Swiggy is awaiting approval from India's Securi...
Post image