Swiggy Targets $12.7B Valuation for $1.4B IPO in November

• Swiggy is aiming for a valuation of $11.7 billion to $12.7 billion for its upcoming IPO, set to launch in early November.
• The IPO includes a fresh issue component of Rs 3,750 crore and an offer for sale of up to 182,286,265 equity shares.
• The primary component may be increased to Rs 4,500 crore, leading to a combined IPO size exceeding Rs 12,000 crore or $1.42 billion.
• Major investors in Swiggy include Prosus (32%), SoftBank (8%), and Accel (6%).
• Swiggy received approval from the Securities and Exchange Board of India (SEBI) for its IPO in September.

Source: Moneycontrol