Swiggy is set to launch its IPO on November 6, aiming for a valuation of approximately $11.3 billion. The share price range is set between Rs 371 and Rs 390, with the subscription period ending on November 8. The company plans to raise Rs 11,327 crore, including a fresh issue of Rs 4,499 crore and an offer for sale of Rs 6,828 crore. Proceeds will be used for debt repayment, expanding its Dark Store network, enhancing technology, and marketing. Swiggy reported a revenue of Rs 3,310.11 crore with a net loss of Rs 611.1 crore for the quarter ending June 2024.
Swiggy is set to launch its IPO on November 6, aiming for a valuation of approximately $11.3 billion. The share price range is set between Rs 371 and Rs 390, with the subscription period ending on November 8. The company plans to raise Rs 11,327 crore, including a fresh issue of Rs 4,499 crore and an offer for sale of Rs 6,828 crore. Proceeds will be used for debt repayment, expanding its Dark Store network, enhancing technology, and marketing. Swiggy reported a revenue of Rs 3,310.11 crore with a net loss of Rs 611.1 crore for the quarter ending June 2024.
•Share price range set between Rs 371 and Rs 390.
•Subscription period ends on November 8.
•Plans to raise Rs 11,327 crore through fresh issue and offer for sale.
•Proceeds allocated for debt repayment, Dark Store expansion, technology enhancement, and marketing.
•Reported revenue of Rs 3,310.11 crore with a net loss of Rs 611.1 crore for June 2024 quarter.