Parasram India

Food delivery major Swiggy has filed an updated draft red herring prospectus (DRHP) with SEBI for its highly anticipated IPO. Here’s an overview of Swiggy’s IPO plans:

IPO Issue Size and Details

  • The IPO comprises a fresh issue of Rs 3,750 crore
  • Also includes an offer for sale of 18.53 crore shares
  • OFS estimated around Rs 6,500 crore at recent valuation
  • IPO will help reduce stake of existing investors

Company Profile and Growth Focus

  • Founded in 2014, Swiggy is India’s leading food delivery platform
  • Commands over 50% market share along with Zomato
  • Focus on expanding beyond food delivery into groceries and other verticals
  • Plans to strengthen technology and AI capabilities

Investor Details

  • Marquee investors like Prosus, Accel, Softbank, Tencent among key shareholders
  • These investors will sell shares in OFS to reduce stake
  • Swiggy was valued at $10.7 billion in last funding round

IPO Rationale and Expectations

  • IPO to support next phase of growth and expansion
  • Food delivery market in India expected to reach Rs 2 lakh crore by 2030
  • Swiggy targeting IPO valuation of $10-13 billion
  • Listing to provide exit option and returns for investors

The IPO is set to garner strong interest given Swiggy’s market dominance and growth prospects. The company is well-placed to capitalize on India’s rapidly growing food delivery and e-grocery markets.

Parasram

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