Abhishek Gaur
29 Oct 2024
Swiggy has set the price band for its IPO at INR 371-390 per share.
The IPO is scheduled to open for public subscription from November 6 to 8.
At the upper end of the price band, Swiggy's valuation could reach $11.3 billion.
The company aims to raise significant funds through the IPO to fuel its growth.
Foodtech major Swiggy has set the stage for its much-anticipated Initial Public Offering (IPO) by fixing the price band at INR 371-390 per share. At the upper end of the price band, the company's valuation could reach approximately $11.3 billion.
The IPO is scheduled to open for public subscription on November 6th, 2024, and will close on November 8th. The company aims to raise significant funds through this IPO to fuel its growth and expansion plans.
Swiggy's IPO comes at a time when the Indian startup ecosystem is witnessing increased activity in the public markets. The company's strong performance and growth prospects have made it a highly anticipated IPO. A successful listing could further boost investor sentiment and encourage more startups to explore public market listings.
However, the current market conditions and recent volatility in the Indian stock market may impact the overall investor sentiment and the IPO's performance. Swiggy's ability to navigate these challenges and deliver strong post-IPO performance will be crucial for its long-term success.
In recent months, Swiggy has been actively expanding its offerings and services. The company launched its quick-commerce service, Instamart, to compete with other players in the market. Additionally, Swiggy has been investing in technology and logistics to enhance its delivery capabilities and customer experience.
The successful completion of the IPO will provide Swiggy with a significant war chest to fuel its growth ambitions. The company can use the funds to invest in technology, expand its operations, and acquire strategic assets.
As Swiggy prepares for its public listing, it will be interesting to see how the market responds to its IPO and whether it can sustain its growth momentum in the face of increasing competition.
Source: Inc42
