- Kotak Mahindra Capital, Citi, and JP Morgan are likely to have senior roles in the deal, while BofA Securities, Jefferies, ICICI Securities, and Avendus Capital may also be part of the syndicate.
- The IPO’s confidential draft red herring prospectus (DRHP) filing is targeted for March 2024, with a potential launch in July-August, subject to market conditions.
- Swiggy’s food delivery business became profitable in the March quarter of FY23, The ballpark size of the Swiggy IPO is estimated to be around $1 billion.
- Softbank backed Swiggy raised $700 million in January 2022 at a valuation of $10.7 billion.
- After two back-to-back markdowns, investor Invesco last valued Swiggy at around $5.5 billion while Baron Capital pegged it at around $7.3 billion
- Zomato is currently is valued over Rs 1 lakh crore