Swiggy IPO Around the Corner: Know Everything You Want

Swiggy’s Corporate Evolution

The well-known food-tech giant Swiggy has recently made a big change by changing its Corporate Status by becoming a public one to a private one. The Brand also updated its corporate identity earlier in February when the business changed its name from Bundl Technology Pvt. Ltd to Swiggy Pvt. Ltd. This was for sure made with intentions of easing Brand recognition and alignment with its chief business of meal delivery. 

IPO Plans 

Before its much-awaited IPO, Swiggy has turned itself into a Public Limited Company. The company is planning to raise around $1 Billion from the public issue.  As the food delivery market industry is rising rapidly investors have a fair chance of diving into this lucrative opportunity. 

Financial Records and Market Stance 

The financial records of the company have improved over time. Though there’s a tough rivalry from Zomato. But the firm has been focusing on cost optimization and the business is also set to cut around 6-7% of its workforce to show profitability for the IPO march ahead. 

Appointment of Suparna Mitra

Swiggy’s decision to appoint Suparna Mitra is a good strategic move. Mitra’s wealth of experience in the retail sector will offer invaluable insights as Swiggy navigates the challenges and opportunities of its upcoming public debut. This move enriches the board’s expertise and these efforts and can also lead to upholding strong Corporate Governance and attracting investors ahead of the IPO march. 

Invesco Valuation 

The US-based investment firm Invesco has increased the valuation of Swiggy to $12.7 Billion, marking an 18% rise from the valuation obtained when the Bengaluru-based firm last raised funds in 2022. In January 2022, Invesco led a $700 Million funding round that valued Swiggy at $10.7 Billion.  

Conclusion: Swiggy’s move to become a publicly traded company is a major turning point for its growth and development. As its rival is going to turn profitable. The main focus is going to be on sustained profitability and operational efficiency which will build trust among investors for the future ahead in the ever-changing food delivery market. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.