Swiggy IPO: Indian Food Delivery Giant Aims for $1.25B After Shareholder Approval

  1. Swiggy, an Indian food delivery startup, plans to raise $1.25 billion in an IPO after securing shareholder approval.
  2. The company aims to raise $450 million through new shares and offer $800 million of shares from existing backers.
  3. Swiggy competes with Zomato and Zepto, and is currently valued at over $12 billion.
  4. It has a strong market position, with approximately 45.8% of the Indian food delivery market.
  5. Swiggy’s food delivery business is profitable, serving 16-17 million monthly transacting users.
  6. The company faces competition from Zomato and Zepto, particularly in the quick commerce business.
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