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The idea is to keep growing and increasing the penetration while listing will be at the right time, says Rapido Founder Aravinda Sanka, talking about the company's IPO plans
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Food-delivery platform Swiggy’s IPO may seek to raise more than USD 1 billion, as per media reports
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Proceeds will be strategically allocated to drive growth initiatives, including unidentified acquisitions, marketing, and capital expenditure enhancements
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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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Primary sources of revenue in FY24 were from the commission on recharge, processing, and interest income on servicing loans, payment gateways, and technologies platforms.
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The IPO plan includes the sale of both new shares and existing shares and may also involve a pre-IPO placement to anchor investors, as per media reports
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The company is making its second effort as It authorised the issuance of shares for public offering in February 2022 but then postponed
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Restaurant commissions from Swiggy generally run from 17 to 25 percent
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The report also noted that India received the highest foreign investment in the year 2023-24, as the investment surged to a new high of Rs 3.4 lakh crore
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Unicommerce eSolutions' share price is quoted at a premium of Rs 41 in today's grey market
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