Swiggy raises $606m from anchor investors before IPO launch

Indian food delivery platform Swiggy has secured US$606 million in funding from over 75 anchor investors.

Anchor investors in this round include global entities such as BlackRock, Fidelity, Norges Bank, BNP Paribas, and HSBC.

This funding is in preparation for a US$1.35 billion IPO, the country’s second-largest listing this year

The Bengaluru-based company seeks an US$11.3 billion valuation through this IPO.

Recent Swiggy developments

Timeline
29-Oct-2024 📈 Swiggy gears up for $11.3b IPO in November Swiggy’s IPO priced at Rs 371-390 per share IPO valued at Rs 11,300 crore, starts Nov 6
28-Oct-2024 🍔 Swiggy cuts IPO valuation to $11.3b amid market challenges Swiggy cuts IPO valuation to $11.3 billion BlackRock, CPP Investment Board join $1.4 billion IPO
25-Apr-2024 📈 Swiggy aims to raise $1.25b in planned IPO Swiggy plans $1.25B IPO with shareholder approval Company valued over $12B, faces competition from Zomato
24-Jul-2023 📈 Swiggy to buy back $50 million in ESOPs from employees Swiggy announces $50M share buyback for employees Buyback part of ESOP plan; includes Dineout staff
13-May-2022 🍽️ Swiggy buys Times Internet’s restaurant-tech platform Swiggy acquires Dineout for $200 million. Dineout will operate independently post-acquisition.

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