Swiggy seeks $11.3B valuation at IPO, half of Zomato

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Artur Stańczuk
November 3, 2024
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Summary:

Swiggy targets $11.3B IPO valuation—about half of Zomato’s market cap at $26.2B. Swiggy's IPO next month seeks $1.34B, with $535M from new shares. Yet, it now ranks behind Blinkit and Zepto in quick commerce. Swiggy’s valuation growth has slowed since its $10.7B private market peak in 2022, but it will try to rebound with its public offering.

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