Swiggy all set for IPO: Another Food Delivery to get listed and raise $1 Billion

Swiggy is all ready for the IPO. The company becomes public today. It expects to raise $1 billion soon. Swiggy is among India’s top food delivery brands. It has all types of food available to be delivered from the platform. We will share details about Swiggy IPO details below. The makers are excited about the IPO’s release. Other companies like Zomato are already in the market. Let us explore more about the company below.

Swiggy is a food delivery app looking for an IPO release. The company turned public recently. There has been a curiosity among investors to know more about this upcoming IPO. The company already established its position and trust in the market. Crores of people use Swiggy for food delivery. Thus, the company only went public. The IPO is expected to be released by the end of 2024.

The company is now Swiggy Limited from Swiggy Private Limited. They might file the DRHP papers soon. The amount raised is expected to be $1 billion. Not only Swiggy, but other big giants showed up for the DRHP papers and IPO recently. The company’s registered name was not Swiggy from the beginning. It shifted from Bundl Technologies Pvt. Ltd. to Swiggy Pvt. Ltd.

The company expects to raise $1 billion from IPO. They have not filed the DRHP papers yet. With the upcoming investment, they will focus on several goals like reduction in cash burn rate and further expansion. The company has been making a loss for the past two years. Having a good revenue of $1.02 Billion till December 2023, they are yet to be profitable. However, their goals are clearer and concise. Thus, the investors trust the brand name and its performance.

Swiggy IPO expects to perform well in the market. The company is trying harder to become profitable by the end of the current financial year. However, there is uncertainty about it. Swiggy started in 2013. It’s been ten successful years for the company. It run successfully as a private firm for a decade. The board collectively decided to go public. It will now prepare all the papers for the IPO. Thus, the company will share the details about the IPO on its website soon.

The investors will be able to apply for the Swiggy IPO soon through the official portal. Details like opening date, price band, and GMP will be available only after the official announcement. We will provide more updates about Swiggy shortly. Stay tuned for more information.