Public Market

IPO

Food delivery giant Swiggy eying $800-M IPO: Report

Nikkei  

Food delivery unicorn Swiggy has begun preparations to raise at least USD 800 million in an initial public offer early next year. Swiggy is hoping to raise the funds to expand market share amid stiff competition with Zomato in food delivery. Swiggy has raised about USD 3.3 Billion since it began operation in 2014 from marquee investors that include SoftBank, Prosus Ventures, Invesco and Accel Partners. The firm was valued at USD 10.7 Billion earlier this year after it raised USD 700 million.