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Swiggy seeks $11.3B value at IPO, less than half Zomato’s worth
Swiggy, one of India's largest food delivery and quick commerce startups, is seeking a valuation of up to $11.3 billion in its initial public offering, Swiggy, once the top food delivery and quick commerce startup in India, seeks IPO valuation at 43% of rival Zomato.
Swiggy, one of India’s largest food delivery and quick commerce startups, is seeking a valuation of up to $11.3 billion in its initial public offering, marking a 57% discount to rival Zomato’s market cap. Swiggy aims to raise $1.34 billion, with $535 million from fresh share issuance and the remainder through existing investor exits. In quick commerce, it now ranks third behind Zomato’s BlinkIt and Nexus-backed Instamart.
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