Swiggy is cooking up something huge this November—its IPO! 🍽️ After months of rumors, it’s finally confirmed that the food delivery giant will hit the stock market, and it’s looking to raise a whopping ₹11,000 crore. This IPO is already making waves, and we’re all hungry for more details! 😎
Let’s Get to the Dish 🍽️
So what’s on the menu for investors? Swiggy, the go-to app for foodies, is backed by some heavyweights like Prosus, SoftBank, and Accel—and was valued at a spicy $9.3 billion as of August 2023. They’ve kept things low-key, using the confidential pre-filing route (SEBI-approved), but word is that ₹5,000 crore of fresh shares will be up for grabs in this offering. That’s a lot of dough! 🍩💰
Why Is Everyone So Hyped?
For one, Swiggy isn’t just about food anymore. It’s also a big player in the quick commerce game, and it’s gearing up to be the second food delivery service to go public—following its rival Zomato. It’s gonna be an intense battle for food supremacy on the stock exchange, and you know we’re all here for it! 🍕🍔🍟
Big Names Are Gobbling Up Shares Too 👀
Here’s the tea—major celebs and financial moguls are getting their slice of the Swiggy pie 🍰. From Amitabh Bachchan’s fam to Motilal Oswal’s Raamdeo Agrawal and even Madhuri Dixit, the stars are aligned with this IPO. 💫 Modern Insulators just picked up a 0.007% stake for ₹4.99 crore. Everyone wants a piece before it hits the public plate. 🍽️
So, When’s the Main Course? 🍽️
The IPO is set to launch in November 2024, but before it hits the market, Swiggy has to make its updated draft red herring prospectus (UDRHP) public for 21 days—letting people chime in. Then, it’s go-time. ⏳
If all goes well, Swiggy is gonna make a major splash as it enters the stock market ring with Zomato. The competition is gonna be hotter than a fresh pizza out of the oven! 🍕🔥
Bottom Line 💥
This IPO is shaping up to be one of the biggest financial feasts of the year. With celebs and investors lining up, the race between Swiggy and Zomato is gonna be legendary. So, are you ready to get in on this? 🍟📈
Stay tuned for more updates because this is one dish you don’t wanna miss! 💸👀