Tue Oct 29 18:58:49 UTC 2024: ## Swiggy to Launch IPO on November 6th, Aiming to Raise $1.35 Billion
**New Delhi:** Indian online food ordering and delivery platform, Swiggy, is set to launch its Initial Public Offering (IPO) on November 6th. The IPO will close on November 8th, with anchor investor allocation scheduled for November 5th.
Swiggy has set the price band for the IPO between ₹371 and ₹390 per share. According to Bloomberg reports, the company aims to raise up to $1.35 billion (approximately ₹11,700 crore) through this listing. Swiggy received SEBI approval for its IPO in September.
Founded in 2014, Swiggy is headquartered in Bangalore and operates in over 580 cities across India. It boasts over 200,000 restaurant partners nationwide and is a direct competitor to Zomato, which launched its own IPO in July 2021. Zomato’s IPO, valued at ₹9,375 crore, was oversubscribed 35 times.
The IPO launch comes as Swiggy seeks to expand its reach and strengthen its position in the competitive Indian online food delivery market.
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