Swiggy IPO plans unveiled: Will it take a bigger bite of Zomato’s pie?

Swiggy IPO: Swiggy faces stiff competition from Zomato, which has already established a strong market position and is riding high on recent success.

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Swiggy IPO: Swiggy, one of India's largest food delivery platforms, filed its updated Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) on September 26 as it gears up for a major initial public offering (IPO).

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The Bengaluru-based company plans to raise ₹3,750 crore ($448.56 million) through the IPO.

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Swiggy’s updated DRHP revealed significant financial improvements in FY24. The company managed to reduce its losses by 43 per cent, bringing them down to ₹2,350 crore.

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Its consumer-facing business, including food delivery, dining, and Instamart, reported a gross order value (GOV) of ₹35,000 crore, boosted by 14.3 million active monthly users.

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