Swiggy Lowers Valuation Target for IPO

  • Valuation Adjustment: Swiggy, the popular food delivery company, has reduced its expected IPO valuation to a range of $12.5-13.5 billion, marking a 10-16% decrease from its previous $15 billion target.

  • Market Conditions: This adjustment is attributed to ongoing market volatility and a recent dip in Indian stock market performance. Swiggy aims to offer investors strong growth potential and favorable pricing.

  • Listing Timeline: Swiggy’s IPO is anticipated to launch mid-November, coinciding with Diwali, following its Draft Red Herring Prospectus update​

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