Swiggy IPO: If you are waiting for the IPO of food delivery company Swiggy, then this news is useful for you. Actually, Swiggy’s IPO has got SEBI’s approval. Let us tell you that Prosus and Softbank-backed company Swiggy had confidentially filed the draft to launch the IPO. Now after SEBI’s approval, the way to launch the IPO has been cleared. The company is going to compete with Zomato in the stock market.
In a Moneycontrol report, the source said- After this approval under the confidential filing route, two updated DRHPs (draft red herring prospectuses) will be filed, one will respond to SEBI’s comments and the other will seek public comments for 21 days. Only after that the RHP (red herring prospectus) will be filed. Another source said that no final decision has been taken on launching the IPO but the issue may be launched in November. At the same time, discussions with anchor investors will start now.
Confidential filing concept came in 2022
Let us tell you that SEBI introduced the concept of confidential filing in November 2022. Direct-to-home platform Tata Play (formerly Tata Sky) was the first firm to file confidential papers with SEBI for an IPO. However, the company canceled its listing plans.
Swiggy Investors
Prosus (32%), SoftBank (8%), Accel (6%) are the major investors in Swiggy. Elevation Capital, DST Global, Norwest, Tencent, Qatar Investment Authority (QIA), Singapore’s GIC among others are shareholders of the company.
Zomato’s IPO came in 2021
Let us tell you that the IPO of Swiggy’s competitor Zomato came in July 2021. This IPO got a strong response from investors. The price band of the IPO was Rs 72 to Rs 76 per share. At the same time, the shares were listed on BSE and NSE on July 23, 2021. Currently, Zomato shares closed at Rs 291.65. The all-time high of the share is Rs 298.
