Swiggy Files for Rs 3,750 Crore IPO, Targeting $15 Billion Valuation

The food delivery giant plans to use the proceeds for debt repayment, quick commerce expansion, and technology investments.

Swiggy's IPO includes a fresh issue of Rs 3,750 crore and an offer-for-sale of 185.3 million shares by existing shareholders.
The company aims to raise a total of Rs 10,414 crore through the IPO, with potential to increase the fresh issue component to Rs 11,600 crore.
Proceeds will be used for debt repayment, expanding the Instamart quick commerce business, technology infrastructure, and marketing.
Swiggy reported a 36% revenue increase to Rs 11,247 crore in FY24, while reducing net losses by 44% to Rs 2,350 crore.
The IPO comes amid a booming Indian stock market, with 235 companies raising over $8.6 billion this year, more than double last year's amount.