Hindi Tamil Telugu
    More
    In the news
    Narendra Modi
    Amit Shah
    Box Office Collection
    Bharatiya Janata Party (BJP)
    OTT releases
    Hindi Tamil Telugu
    User Placeholder

    Hi,

    Logout

    India
    Business
    World
    Politics
    Sports
    Technology
    Entertainment
    Auto
    Lifestyle
    Inspirational
    Career
    Bengaluru
    Delhi
    Mumbai

    Download Android App

    Follow us on
    • Facebook
    • Twitter
    • Linkedin
    Home / News / Business News / Swiggy now plans to raise $1.4 billion via its IPO
    Summarize
    Next Article
    Swiggy now plans to raise $1.4 billion via its IPO
    It seeks a valuation of around $15 billion

    Swiggy now plans to raise $1.4 billion via its IPO

    By Dwaipayan Roy
    Sep 10, 2024
    01:17 pm

    What's the story

    Swiggy is contemplating a significant increase in its initial public offering (IPO).

    The company now plans to raise $600 million via fresh issue in place of $450 million, an increase of $150 million.

    This decision is pending shareholder approval at an extraordinary general meeting (EGM) scheduled for October 3.

    If approved, the total IPO size will increase from $1.25 billion to around $1.4 billion, with an additional $150 million coming via a fresh issue.

    Shareholder consent

    Swiggy seeks shareholder approval for revised IPO plans

    Swiggy's meeting with its shareholders for its revised IPO plans will include discussions on both the increased fresh issue and an offer for sale by existing shareholders.

    The Bengaluru-based start-up is considering selling around $800 million worth of shares from existing investors in the IPO, as it seeks a valuation of around $15 billion.

    You're
    33%
    through

    Market dynamics

    Swiggy's competition

    Swiggy, backed by investors such as Prosus Ventures, SoftBank, and Accel, is a dominant player in India's food delivery and quick-commerce sector. However, it faces stiff competition from rivals like Zomato, Tata-owned BigBasket, and General Catalyst-backed Zepto.

    You're
    66%
    through

    Financial growth

    Financial growth and market position

    Swiggy's revenue saw a significant increase of 36% from ₹8,265 crore in FY23 to ₹11,247 crore in FY24.

    Concurrently, its losses were reduced by 44% from ₹4,179 crore to ₹2,350 crore.

    This financial improvement is attributed to better expense management during the year, as the company prepares for its stock market debut later in 2024.

    Done!
    Facebook
    Whatsapp
    Twitter
    Linkedin
    Related News
    Latest
    Swiggy
    Initial Public Offering (IPO)
    Stock Market
    Zomato

    Latest

    IPL 2025: Sanju Samson returns to lead Rajasthan Royals Sanju Samson
    Cannes: Kevin Spacey to be honored for 'artistic brilliance' Kevin Spacey
    Google scientist says AI will replace junior engineers very soon Google
    Akshay-Priyadarshan's 'Bhooth Bangla' wraps shooting; April 2026 release confirmed Akshay Kumar

    Swiggy

    Ola scores a duck in rankings for gig worker fairness Ola
    Swiggy Instamart creator Karthik Gurumurthy to quit, start own venture Startups
    Jio introduces plan with Swiggy One Lite subscription: Check benefits Reliance Jio
    Swiggy shortlists 7 investment banks as advisors for 2024 IPO Initial Public Offering (IPO)

    Initial Public Offering (IPO)

    Upcoming IPOs this week: Ola Electric, Rajputana Industries, and more Ola Electric
    Ola Electric reveals IPO price band, aims to raise ₹6,100cr Ola Electric
    Ola Electric IPO: This investor is set for 800% returns Bhavish Aggarwal
    FirstCry sets IPO price band at ₹440-465 per share Business

    Stock Market

    4 new IPOs hitting market this week: Check list Initial Public Offering (IPO)
    Sensex gains 145 points, Nifty settles below 24,600 mark Sensex
    Sensex closes at 80,716 points, Nifty settles above 24,600 mark Sensex
    8 IPOs set to debut on stock exchange next week Initial Public Offering (IPO)

    Zomato

    Zomato subsidiaries' auditor resigns, clearing path for Deloitte Business
    Zomato achieves biggest ever order volume on Mother's Day Deepinder Goyal
    Zomato reports Q4 profit of ₹175 crore, revenue grows 73% Blinkit
    Zomato in discussions with NBFCs to provide loans to restaurants Business
    Indian Premier League (IPL) Celebrity Hollywood Bollywood UEFA Champions League Tennis Football Smartphones Cryptocurrency Upcoming Movies Premier League Cricket News Latest automobiles Latest Cars Upcoming Cars Latest Bikes Upcoming Tablets
    About Us Privacy Policy Terms & Conditions Contact Us Ethical Conduct Grievance Redressal News News Archive Topics Archive Download DevBytes Find Cricket Statistics
    Follow us on
    Facebook Twitter Linkedin
    All rights reserved © NewsBytes 2025