Swiggy is giving shares at 20% discount to such investors, know the reason? – India TV Hindi.

Swiggy- India TV Money

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Food delivery app swiggyPreparing to launch an initial public offering (IPO). According to reports, the company may launch its IPO later this year. Before that, the company is starting fundraising preparations. The company is offering high net worth individuals (HNIs) to buy its shares at a discount of 20 percent from its current price. According to the report, financial advisors appointed by Swiggy are valuing each share at ₹350, which would give the company a market cap of ₹80,000 crore.

The market cap of the company is estimated as follows.

Earlier, US-based asset management company (AMC) Invesco valued Swiggy by 19% to $12.7 billion ahead of its expected IPO, according to a regulatory filing. Invesco led a $700 million funding round for the food delivery startup in January 2022, valuing it at $10.7 billion. Subsequently, Barron Capital, an investor in the company, valued Swiggy at $12.2 billion as of March 2024, giving the IPO-ready startup a significant boost.

Zomato plans to increase its market cap repeatedly.

Due to the support the company has received from investors, Swiggy’s valuation is approaching that of its rival Zomato. On Wednesday, April 10, shares of Zomato closed at ₹197.30 on the NSE. In intraday trading, it touched a high of ₹199.60, touching the psychological range of around ₹200. According to an internal company document, Swiggy posted a loss of $200 million for the nine months ending December 2023. The document also reveals that for the full fiscal year 2022-23, Swiggy recorded a loss of ₹41.8 billion ($500 million). However, the company is expected to narrow the loss for the financial year 2023-24 through lower salary payments and lower marketing expenses.

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