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Swiggy seeks valuation of $11.3 billion; IPO to open on Wednesday
Food delivery and quick-commerce major Swiggy, which is coming out with its initial public offering (IPO) on Wednesday, is seeking a valuation of about USD 11.3 billion.
The Bengaluru-based company is aiming to garner Rs 11,327 crore from the IPO, which will comprise a fresh issue of shares worth Rs 4,499 crore along with an offer for sale (OFS) of Rs 6,828 crore.
Swiggy has set a price band of Rs 371 to Rs 390 per share for its maiden public issue. The issue will open for public subscription on November 6 and conclude on November 8.
Speaking about the pricing, Swiggy Food Marketplace CEO Rohit Kapoor said, "We feel we have priced it right and we are looking forward to the next few days."
The valuation of Swiggy has been pegged at about USD 11.3 billion (about Rs 95,000 crore) at the upper price band. Rival Zomato, which went public in July 2021, has a market valuation of Rs 2.13 lakh crore.
"Our pricing is in the range of Rs 371-390 which corresponds to a value of about USD 11.3
