Swiggy Increases IPO Size: Now Raising Rs 5,000 Crore

Source: Moneycontrol

Increased Fresh Issue

Swiggy increases fresh issue from Rs 3,750 Cr to Rs 5,000 Cr (+Rs 1,250 Cr).

Total IPO Value

Total IPO size could reach $1.4 billion, up from $1.25 billion.

Competitive Market

Swiggy readies cash in a competitive market as rivals like Zomato and Blinkit grow.

Financial Improvements

Swiggy’s FY24 revenue grew 36% to Rs 11,247 Cr, while losses dropped by 44%.

Rival Comparison

Zomato reported Rs 12,114 Cr in revenue and Rs 351 Cr profit, while Swiggy posted a Rs 2,350 Cr loss.

Reason for IPO Increase

Swiggy boosts cash reserves as rivals raise funds and expand aggressively.