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Swiggy , one of India ’s largest food manner of speaking and quick - mercantilism startups , is seek a valuation of up to $ 11.3 billion in its initial public oblation , marking a 57 % discount to rival Zomato ’s mart capital .
The lossmaking Bengaluru - found caller has place an IPO price dance band of ₹ 371 to ₹ 390 ( $ 4.41 to $ 4.64 ) per ploughshare for next calendar month ’s IPO . At the upper end , the valuation would stage only a modest premium to its$10.7 billion private marketplace economic value from early 2022 — falling short ofrecent rating by mutual fund investorsInvesco and Baron .
Swiggy aims to promote $ 1.34 billion , with $ 535 million from fresh share issuance and the remainder through existing investor exits . Swiggy , which led India ’s intellectual nourishment rescue market four years ago and pioneered quick commercialism , has since lost significant grocery portion in both segments . In quick commerce , it now outrank third behind Zomato ’s Blinkit and Nexus - back Zepto .
Zomato , which recently announcedplans to conjure up up to $ 1 billionthrough a dependent institutional placement , currently commands a marketplace cap of $ 26.2 billion .
