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Swiggy, the prominent food delivery and quick commerce platform, has set its sights on raising a substantial ₹ 11,327.4 crore through an Initial Public Offering (IPO). This ambitious endeavor involves a fresh issue of 11.54 crore shares, valued at ₹ 4,499 crore, along with an offer-for-sale of 17.51 crore shares, contributing an additional ₹ 6,828.4 crore to the total. The anticipated issue price is projected to fall between ₹ 371 and ₹ 390, reflecting the company's strong market standing and growth potential.
This upcoming IPO marks a significant milestone for Swiggy, positioning it as the second food delivery and quick commerce company to venture into the public market, following in the footsteps of Zomato, which successfully debuted in 2021. However, Swiggy's IPO distinguishes itself with an even larger issue size compared to Zomato's ₹ 9,375 crore IPO. This underscores Swiggy's commitment to expanding its operations, investing in new technologies, and strengthening its position in the ever-growing food delivery landscape.
The successful completion of Swiggy's IPO is anticipated to further invigorate the food delivery sector, attracting additional investments and fueling innovation. As Swiggy enters the public market, it faces the challenges of meeting investor expectations, navigating the competitive landscape, and continuously evolving to meet the changing needs of consumers. The company's ability to overcome these hurdles and maintain its momentum will be crucial to its long-term success.
Source: CAM, SAM, AZB, JSA and Latham act on Swiggy's ₹ 11,327.4 crore IPO