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SoftBank-backed Swiggy eyes $800-mn IPO early next year: Report

Swiggy has begun adding independent directors to the board, and plans to position itself as a logistics company and not just a food delivery firm, according to the report

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Swiggy recently became a decacorn by raising $700 million after a funding round led by Invesco

BS Web Team New Delhi
Food delivery giant Swiggy is eyeing $800 million in initial public offerings (IPO) next year and has started preparations for the same, a report by Nikkei Asia said.

This comes after its rival Zomato, which witnessed a stellar debut in markets last year, has seen its shares decline below its issue price. Zomato commands a market capitalisation of about $9 billion (Rs 67,600 crore). Zomato was valued at $5.4 billion before its IPO. It reported tepid order value growth in the third quarter. SoftBank Group-backed Swiggy has started adding independent directors to the board as the food delivery company also
Topics : Swiggy IPOs

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First Published: Feb 22 2022 | 2:32 PM IST

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