IPO Price Pegs Swiggy Valuation At $11.3 Bn

There has been no lowering of valuation as the real value of the company is determined when the transaction actually happens. This is all speculation in the media on what the value is. - Rohit Kapoor, CEO, Swiggy Food

New Delhi: Food delivery and quick-commerce major Swiggy, which is coming out with its initial public offering (IPO) on Wednesday, is seeking a valuation of about $11.3 billion.

The Bengaluru-based company is aiming to garner Rs11,327 crore from the IPO, which will comprise a fresh issue of shares worth Rs4,499 crore along with an offer for sale (OFS) of Rs6,828 crore. Swiggy has set a price band of Rs371 to Rs390 per share for its maiden public issue. The issue will open for public subscription on November 6 and conclude on November 8.