Swiggy Cooked Up for IPO Feast: A Rs 11,300 Crore Venture

Swiggy aims to raise Rs 11,300 crore through its IPO opening on November 6, with shares priced between Rs 371 and Rs 390. The IPO, combining new shares and an offer for sale, highlights the growth of this valuable food delivery company as it expands its operations and infrastructure.

Food delivery giant Swiggy is preparing to raise a colossal Rs 11,300 crore via an initial public offering commencing on November 6. Potential investors can secure shares priced between Rs 371 to Rs 390 each, sources confirmed on Monday.

The IPO, concluding on November 8, amalgamates a fresh issue of Rs 4,500 crore and an offer for sale worth Rs 6,800 crore. Notably, early backers such as Accel and Elevation Capital are reportedly seeing returns of up to 35 times on their investments.

Funds raised will address various corporate needs, including debt payment, expansion of the quick commerce segment, technological advancements, and marketing initiatives. Established in 2014, Swiggy's valuation reached nearly USD 13 billion in April, demonstrating its significant market presence.

(With inputs from agencies.)