Swiggy Narrows Gap with Zomato on Revenue, Food Delivery Business Grows 36% to Rs 11,247 Crore in FY24

• Swiggy has filed for an IPO with SEBI, aiming to raise Rs 3,750 crore through fresh equity shares and an OFS of up to 185,286,265 shares.
• Prosus plans to offload 63.8% of the OFS, with other investors like Accel, Alpha Wave Ventures...

Some comparisons:

• Swiggy’s trading losses reduced to $158mn during FY24 while Zomato reported a positive Ebitda of c.$5mn during FY24.
• Swiggy’s GOV growing at 26% YoY vs Zomato at 36%
• Swiggy had 387,000 active delivery partners vs ...

• Swiggy received shareholders' approval to increase fresh issue size to INR 5,000 Cr.
• The foodtech major aims to raise $1.4 Bn through its IPO, at a likely valuation of $15 Bn.
• The IPO will also include an offer for sale component...

• Swiggy is set to sponsor Shark Tank India Season 4, ousting Zomato CEO Deepinder Goyal from the show.
• This move highlights the escalating rivalry between the two food delivery platforms.
• Swiggy's proposed ₹5,000 crore IPO...