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Swiggy to Launch IPO Aiming for $11.3 Billion Valuation
Swiggy to Launch IPO Aiming for $11.3 Billion Valuation
Swiggy to Launch IPO Aiming for $11.3 Billion Valuation
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|Times of India|2 months ago

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.

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