Swiggy IPO Date

Swiggy IPO Date, the Indian food delivery company is set to raise around $800 million through an initial public offer. After Zomato, the Indian food delivery chain, which is backed by SoftBank Group is coming with an IPO. The Swiggy IPO date is not yet decided but early reports say that the SoftBank Group-backed food delivery chain will come early next year. The IPO will comprise of both a Fresh issue of equity shares and an Offer for sale.

Swiggy IPO date

As per sources, Swiggy has begun adding independent directors to the board and plans to come up as a logistics company along with a food delivery firm. Swiggy doubled its valuation to $10.7 billion in its latest funding period. Swiggy’s rival Zomato Ltd, which came up with its IPO last year, saw a stellar debut but after a course of time has struggled to keep the momentum going. In December 2021, Swiggy claimed monthly sales of $250 million from its food delivery business, while Zomato posted sales of $733 million in the October-December quarter.

With the pandemic around for almost 2 years now, a period of shutdowns and lockdowns, and many strict restrictions, India saw huge demand for delivery of food and grocery mainly in the cities. For these reasons Swiggy has expanded its foray into many competitive segments of quick commerce delivery, where it is being challenged by Reliance Industries backed Dunzo, Tata Group’s BigBasket, and a few more.

More details about the Food delivery Chain IPO will be out soon. Stay tuned for further updates.

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