As per Reuters, Swiggy is preparing for one of India's largest IPOs this year, targeting a valuation of around USD 15 billion
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Founders Gaurav Singh Kushwaha and Ganesh Krishnan own approximately 14 per cent of the business, according to media reports.
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This marks a 75 per cent increase over its post-IPO valuation of USD 4 billion
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Zepto’s valuation will reportedly surge from USD 1.6 billion in August 2023 to a projected USD 5 billion, as per media reports
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Kotak Mahindra Capital Company, Citigroup Global Markets India, BofA Securities India, Goldman Sachs (India) Securities, Axis Capital, ICICI Securities, SBI Capital Markets, and BOB Capital Markets are the book running lead managers and Link Intime India is the registrar to the offer
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The IPO proceeds will be used for setting up new modern stores, sales and marketing incentives, investing in its subsidiary Digital Age, and more. Funds will also go towards paying leases for existing stores, setting up warehouses, and expanding to Saudi Arabia
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The IPO is expected to be launched at a valuation of around USD 4 billion, a decrease from the USD 5.4 billion valuation achieved after a USD 140 million funding round by Singapore’s sovereign wealth fund Temasek in September 2023
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Ola Electric's last funding round in September, led by Singapore's investment firm Temasek, valued the company at USD 5.4 billion
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The company's rapid expansion led to a cash shortage and a decline in valuation, resulting in multiple lawsuits in India and the US
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Sauce VC, a consumer-focused investment firm, now holds around a 10 per cent stake in Hocco, as per a media report
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