Swiggy, one of India’s largest food delivery platforms, is gearing up for a blockbuster Initial Public Offering (IPO) set for November 2024. The company has received a green light from the Securities and Exchange Board of India (SEBI) and is eyeing a massive ₹11,000 crore (₹110 billion) raise. This includes ₹5,000 crore through fresh share issuance.
Swiggy, which boasts investors like Prosus, SoftBank, and Accel, will become the second major food delivery firm to hit the public markets after Zomato. Notably, Swiggy is taking the confidential filing route, introduced in 2022, which allows for greater privacy and protection of sensitive business data ahead of the listing. If all goes as planned, the IPO will further solidify Swiggy’s position in India’s rapidly growing digital economy.
