Swiggy to launch $1.35 billion IPO next week, marking a major milestone

Food delivery platform Swiggy is gearing up for a landmark $1.35 billion initial public offering (IPO), with plans to open bids on November 6 and initiate trading on November 13. The company aims to sell shares priced at up to 390 rupees ($4.64) each, insiders reveal, though the information isn’t yet public.

India’s high-growth economy and investors' appetite for high-value IPOs have fueled a surge in public offerings, positioning the nation among the world's most active IPO markets. Earlier this month, Hyundai Motor India made headlines by raising a record $3.3 billion through its own IPO.

Swiggy, founded in 2014, collaborates with over 200,000 restaurants across India, delivering food to a vast and growing customer base. Competing with food delivery giant Zomato, Amazon India, and Tata Group’s BigBasket, Swiggy remains at the forefront of India’s rapid quick-commerce expansion.