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There is a big update regarding the Initial Public Offering (IPO) of Indian food delivery platform Swiggy. According to a Bloomberg report, the price band of the IPO can be fixed at Rs 390 ($ 4.64) per share, which is expected to raise $ 1.35 billion. According to a Bloomberg report, sources say that Swiggy's IPO will open from November 6 and trading in shares is expected to start from November 13.
Investors' enthusiasm for India's high growth rate and their willingness to pay high valuations has encouraged a record number of companies to go public, making India one of the world's busiest IPO markets. Partnership with more than 200,000 restaurants Hyundai Motor India, India's second-largest carmaker by sales, raised a record $3.3 billion through an IPO earlier this month. Swiggy, founded in 2014, works with more than 200,000 restaurants across the country for food delivery in the world's most populous country, according to its website. The company's competitors include Zomato Ltd and Tata Group's BigBasket in the country's fast-growing quick commerce sector. According to the report, sources say Swiggy is going to price its IPO at Rs 390 per share.
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