Swiggy IPO: Swiggy will soon bring IPO in the market to compete with Zomato, this day is the plan of listing in the stock market

Food delivery platform Swiggy is preparing to list on the Indian stock market. For which the company is now in talks with 8 investment banks for its valuation.

Online food delivery platform Swiggy can soon bring its Initial Public Offering i.e. IPO in the market. Actually, the company is preparing to be listed in the Indian stock market. For this, the company is talking to 8 banks for their valuation. According to reports, Swiggy may bring its IPO in the market next month. At the same time, it is focusing on getting listed in 2024. Swiggy's Rival Zomato is already listed in the stock market. Its shares are also increasing by an increase of 54.8% till now. In such a situation, food delivery platform Swiggy has started preparations for market listing to compete with Zomato. Let us tell you, Japan's leading investment firm, SoftBank has also invested in Swiggy.

Swiggy raised this much fund

Swiggy last raised funds in the year 2022 at a valuation of $10.7 billion. However, it shelved its IPO plans, like many other Indian startups, amid investor concerns over funding crunch and high valuations.

Sources in the report said that after the boom in the global and Indian markets, Swiggy has resumed work on its IPO plan. It has invited 8 investment bankers to work on the IPO in early September. These include Morgan Stanley, JP Morgan and Bank of America etc.

This much will be the valuation of the company

A source directly aware of the matter said in the report that Swiggy is using the last valuation of $ 10.7 billion as a benchmark for its IPO. However, the source also said that the company has not yet taken any decision on a possible stake sale or final valuation.