{"id":1272860,"date":"2023-08-28T06:30:45","date_gmt":"2023-08-28T01:00:45","guid":{"rendered":"https:\/\/trak.in\/stories\/?p=1272860"},"modified":"2023-08-28T06:31:25","modified_gmt":"2023-08-28T01:01:25","slug":"swiggy-ipo-in-2024-swiggy-starts-negotiating-with-banks-for-launching-ipo-next-year","status":"publish","type":"post","link":"https:\/\/trak.in\/stories\/swiggy-ipo-in-2024-swiggy-starts-negotiating-with-banks-for-launching-ipo-next-year\/","title":{"rendered":"Swiggy IPO In 2024? Swiggy Starts Negotiating With Banks For Launching IPO Next Year"},"content":{"rendered":"\n

Swiggy is planning to launch a 2024 stock market listing and has enlisted bankers to assess its valuation.<\/p>\n\n\n\n

\"Swiggy<\/figure>\n\n\n\n

IPO plans renewed<\/strong><\/p>\n\n\n\n

It was valued at $10.7 billion in its last fundraising in 2022.<\/p>\n\n\n\n

However its plans, like many Indian startups, had to be put on hold thanks to a pandemic-infused overall slowdown. <\/p>\n\n\n\n

It has now rebounded, calling as much as eight top profile names to pitch in with the IPO.<\/p>\n\n\n\n

It has planned an IPO listing window between July and September 2024.<\/p>\n\n\n\n

Picking suitable partners<\/strong><\/p>\n\n\n\n

It is banking on the last funding round\u2019s valuation of $10.7 Bn as a reference point for its IPO strategy.<\/p>\n\n\n\n

This means that it is yet to decide on stake sale or the final valuation.<\/p>\n\n\n\n

Earlier this year the CEO had declared profitability as of March 2023.<\/p>\n\n\n\n

Financials<\/strong><\/p>\n\n\n\n

\u201cAs of March 2023, Swiggy\u2019s food delivery business has turned profitable (After factoring in ALL corporate costs; excluding employee stock option costs),\u201d Swiggy CEO co-founder and CEO Sriharsha Majety claimed.<\/p>\n\n\n\n

In FY22, the company posted a consolidated loss of INR 3,629 Cr and a revenue of INR 5,704.9 Cr.<\/p>\n\n\n\n

Of this, INR 3,444.4 Cr came from the food delivery business.<\/p>\n\n\n\n

Competing against Zomato <\/strong><\/p>\n\n\n\n

Meanwhile rival Zomato turned profitable in the first quarter of FY24 with a consolidated profit after tax (PAT) of INR 2 Cr.<\/p>\n\n\n\n

This translates to a growth of 54.8% thus far, signaling a return <\/a>of investor confidence in India’s financial markets.<\/p>\n\n\n\n

This comes after a consolidated net loss <\/a>of INR 186 Cr in the corresponding quarter of the previous fiscal.<\/p>\n\n\n\n

Zepto zooming ahead<\/strong><\/p>\n\n\n\n

Yet another startup dealing with online grocery Zepto reported a fundraise of $200 million pegged at a valuation of $1.4 billion.<\/p>\n\n\n\n

This propelled it to become the first <\/a>Indian startup to turn unicorn after a spell of funding drought in the startup sector. <\/p>\n\n\n\n

Back to Swiggy<\/strong><\/p>\n\n\n\n

The Softbank-backed Swiggy is directly involved in the planning process.<\/p>\n\n\n\n

However, it hasn’t decided on a potential stake sale or final. <\/p>\n\n\n\n

Invesco, a minor shareholder, valued it at around $5.5 billion.<\/p>\n\n\n\n

It has promising prospects, since it has assured its core food delivery business had turned profitable even as its newer grocery delivery service, Instamart, has been on a downward trajectory.<\/p>\n","protected":false},"excerpt":{"rendered":"

Swiggy is planning to launch a 2024 stock market listing and has enlisted bankers to assess its valuation. IPO plans renewed It was valued at $10.7 billion in its last fundraising in 2022. However its plans, like many Indian startups, had to be put on hold thanks to a pandemic-infused overall slowdown.  It has now […]<\/p>\n","protected":false},"author":24,"featured_media":1272869,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[179,3279],"class_list":["post-1272860","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-swiggy","tag-swiggy-ipo"],"acf":[],"yoast_head":"\nSwiggy IPO In 2024? Swiggy Starts Negotiating With Banks For Launching IPO Next Year - Trak.in - Indian Business of Tech, Mobile & Startups<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/trak.in\/stories\/swiggy-ipo-in-2024-swiggy-starts-negotiating-with-banks-for-launching-ipo-next-year\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Swiggy IPO In 2024? Swiggy Starts Negotiating With Banks For Launching IPO Next Year - Trak.in - Indian Business of Tech, Mobile & Startups\" \/>\n<meta property=\"og:description\" content=\"Swiggy is planning to launch a 2024 stock market listing and has enlisted bankers to assess its valuation. IPO plans renewed It was valued at $10.7 billion in its last fundraising in 2022. However its plans, like many Indian startups, had to be put on hold thanks to a pandemic-infused overall slowdown.  It has now […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/trak.in\/stories\/swiggy-ipo-in-2024-swiggy-starts-negotiating-with-banks-for-launching-ipo-next-year\/\" \/>\n<meta property=\"og:site_name\" content=\"Trak.in - Indian Business of Tech, Mobile & Startups\" \/>\n<meta property=\"article:published_time\" content=\"2023-08-28T01:00:45+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-08-28T01:01:25+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/trak.in\/stories\/wp-content\/uploads\/2023\/08\/Swiggy-Food-Delivery-Opt-1-1280x720-1-1024x576-1.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"576\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Shreya Bose\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shreya Bose\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/trak.in\/stories\/swiggy-ipo-in-2024-swiggy-starts-negotiating-with-banks-for-launching-ipo-next-year\/\",\"url\":\"https:\/\/trak.in\/stories\/swiggy-ipo-in-2024-swiggy-starts-negotiating-with-banks-for-launching-ipo-next-year\/\",\"name\":\"Swiggy IPO In 2024? Swiggy Starts Negotiating With Banks For Launching IPO Next Year - Trak.in - Indian Business of Tech, Mobile & Startups\",\"isPartOf\":{\"@id\":\"https:\/\/trak.in\/stories\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/trak.in\/stories\/swiggy-ipo-in-2024-swiggy-starts-negotiating-with-banks-for-launching-ipo-next-year\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/trak.in\/stories\/swiggy-ipo-in-2024-swiggy-starts-negotiating-with-banks-for-launching-ipo-next-year\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/trak.in\/stories\/wp-content\/uploads\/2023\/08\/Swiggy-Food-Delivery-Opt-1-1280x720-1-1024x576-1.jpeg\",\"datePublished\":\"2023-08-28T01:00:45+00:00\",\"dateModified\":\"2023-08-28T01:01:25+00:00\",\"author\":{\"@id\":\"https:\/\/trak.in\/stories\/#\/schema\/person\/9817221c96a9aadc34f34cc7b8767dc6\"},\"breadcrumb\":{\"@id\":\"https:\/\/trak.in\/stories\/swiggy-ipo-in-2024-swiggy-starts-negotiating-with-banks-for-launching-ipo-next-year\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/trak.in\/stories\/swiggy-ipo-in-2024-swiggy-starts-negotiating-with-banks-for-launching-ipo-next-year\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/trak.in\/stories\/swiggy-ipo-in-2024-swiggy-starts-negotiating-with-banks-for-launching-ipo-next-year\/#primaryimage\",\"url\":\"https:\/\/trak.in\/stories\/wp-content\/uploads\/2023\/08\/Swiggy-Food-Delivery-Opt-1-1280x720-1-1024x576-1.jpeg\",\"contentUrl\":\"https:\/\/trak.in\/stories\/wp-content\/uploads\/2023\/08\/Swiggy-Food-Delivery-Opt-1-1280x720-1-1024x576-1.jpeg\",\"width\":1024,\"height\":576},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/trak.in\/stories\/swiggy-ipo-in-2024-swiggy-starts-negotiating-with-banks-for-launching-ipo-next-year\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/trak.in\/stories\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Swiggy IPO In 2024? Swiggy Starts Negotiating With Banks For Launching IPO Next Year\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/trak.in\/stories\/#website\",\"url\":\"https:\/\/trak.in\/stories\/\",\"name\":\"Trak.in - Indian Business of Tech, Mobile & Startups\",\"description\":\"Trak.in is a popular Indian Business, Technology, Mobile & Startup blog featuring trending News, views and analytical take on Technology, Business, Finance, Telecom, Mobile, startups & Social Media Space\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/trak.in\/stories\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/trak.in\/stories\/#\/schema\/person\/9817221c96a9aadc34f34cc7b8767dc6\",\"name\":\"Shreya Bose\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/trak.in\/stories\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/1404d637610526a87c014a8eac9883a6c61491f1e6553d1946b0dd0b135713be?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/1404d637610526a87c014a8eac9883a6c61491f1e6553d1946b0dd0b135713be?s=96&d=mm&r=g\",\"caption\":\"Shreya Bose\"},\"url\":\"https:\/\/trak.in\/stories\/author\/shreya-bose\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Swiggy IPO In 2024? Swiggy Starts Negotiating With Banks For Launching IPO Next Year - Trak.in - Indian Business of Tech, Mobile & Startups","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/trak.in\/stories\/swiggy-ipo-in-2024-swiggy-starts-negotiating-with-banks-for-launching-ipo-next-year\/","og_locale":"en_US","og_type":"article","og_title":"Swiggy IPO In 2024? Swiggy Starts Negotiating With Banks For Launching IPO Next Year - Trak.in - Indian Business of Tech, Mobile & Startups","og_description":"Swiggy is planning to launch a 2024 stock market listing and has enlisted bankers to assess its valuation. IPO plans renewed It was valued at $10.7 billion in its last fundraising in 2022. However its plans, like many Indian startups, had to be put on hold thanks to a pandemic-infused overall slowdown.  It has now […]","og_url":"https:\/\/trak.in\/stories\/swiggy-ipo-in-2024-swiggy-starts-negotiating-with-banks-for-launching-ipo-next-year\/","og_site_name":"Trak.in - Indian Business of Tech, Mobile & Startups","article_published_time":"2023-08-28T01:00:45+00:00","article_modified_time":"2023-08-28T01:01:25+00:00","og_image":[{"width":1024,"height":576,"url":"https:\/\/trak.in\/stories\/wp-content\/uploads\/2023\/08\/Swiggy-Food-Delivery-Opt-1-1280x720-1-1024x576-1.jpeg","type":"image\/jpeg"}],"author":"Shreya Bose","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Shreya Bose","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/trak.in\/stories\/swiggy-ipo-in-2024-swiggy-starts-negotiating-with-banks-for-launching-ipo-next-year\/","url":"https:\/\/trak.in\/stories\/swiggy-ipo-in-2024-swiggy-starts-negotiating-with-banks-for-launching-ipo-next-year\/","name":"Swiggy IPO In 2024? Swiggy Starts Negotiating With Banks For Launching IPO Next Year - Trak.in - Indian Business of Tech, Mobile & Startups","isPartOf":{"@id":"https:\/\/trak.in\/stories\/#website"},"primaryImageOfPage":{"@id":"https:\/\/trak.in\/stories\/swiggy-ipo-in-2024-swiggy-starts-negotiating-with-banks-for-launching-ipo-next-year\/#primaryimage"},"image":{"@id":"https:\/\/trak.in\/stories\/swiggy-ipo-in-2024-swiggy-starts-negotiating-with-banks-for-launching-ipo-next-year\/#primaryimage"},"thumbnailUrl":"https:\/\/trak.in\/stories\/wp-content\/uploads\/2023\/08\/Swiggy-Food-Delivery-Opt-1-1280x720-1-1024x576-1.jpeg","datePublished":"2023-08-28T01:00:45+00:00","dateModified":"2023-08-28T01:01:25+00:00","author":{"@id":"https:\/\/trak.in\/stories\/#\/schema\/person\/9817221c96a9aadc34f34cc7b8767dc6"},"breadcrumb":{"@id":"https:\/\/trak.in\/stories\/swiggy-ipo-in-2024-swiggy-starts-negotiating-with-banks-for-launching-ipo-next-year\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/trak.in\/stories\/swiggy-ipo-in-2024-swiggy-starts-negotiating-with-banks-for-launching-ipo-next-year\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/trak.in\/stories\/swiggy-ipo-in-2024-swiggy-starts-negotiating-with-banks-for-launching-ipo-next-year\/#primaryimage","url":"https:\/\/trak.in\/stories\/wp-content\/uploads\/2023\/08\/Swiggy-Food-Delivery-Opt-1-1280x720-1-1024x576-1.jpeg","contentUrl":"https:\/\/trak.in\/stories\/wp-content\/uploads\/2023\/08\/Swiggy-Food-Delivery-Opt-1-1280x720-1-1024x576-1.jpeg","width":1024,"height":576},{"@type":"BreadcrumbList","@id":"https:\/\/trak.in\/stories\/swiggy-ipo-in-2024-swiggy-starts-negotiating-with-banks-for-launching-ipo-next-year\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/trak.in\/stories\/"},{"@type":"ListItem","position":2,"name":"Swiggy IPO In 2024? Swiggy Starts Negotiating With Banks For Launching IPO Next Year"}]},{"@type":"WebSite","@id":"https:\/\/trak.in\/stories\/#website","url":"https:\/\/trak.in\/stories\/","name":"Trak.in - Indian Business of Tech, Mobile & Startups","description":"Trak.in is a popular Indian Business, Technology, Mobile & Startup blog featuring trending News, views and analytical take on Technology, Business, Finance, Telecom, Mobile, startups & Social Media Space","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/trak.in\/stories\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/trak.in\/stories\/#\/schema\/person\/9817221c96a9aadc34f34cc7b8767dc6","name":"Shreya Bose","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/trak.in\/stories\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/1404d637610526a87c014a8eac9883a6c61491f1e6553d1946b0dd0b135713be?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/1404d637610526a87c014a8eac9883a6c61491f1e6553d1946b0dd0b135713be?s=96&d=mm&r=g","caption":"Shreya Bose"},"url":"https:\/\/trak.in\/stories\/author\/shreya-bose\/"}]}},"jetpack_featured_media_url":"https:\/\/trak.in\/stories\/wp-content\/uploads\/2023\/08\/Swiggy-Food-Delivery-Opt-1-1280x720-1-1024x576-1.jpeg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/trak.in\/stories\/wp-json\/wp\/v2\/posts\/1272860","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/trak.in\/stories\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/trak.in\/stories\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/trak.in\/stories\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/trak.in\/stories\/wp-json\/wp\/v2\/comments?post=1272860"}],"version-history":[{"count":1,"href":"https:\/\/trak.in\/stories\/wp-json\/wp\/v2\/posts\/1272860\/revisions"}],"predecessor-version":[{"id":1272871,"href":"https:\/\/trak.in\/stories\/wp-json\/wp\/v2\/posts\/1272860\/revisions\/1272871"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/trak.in\/stories\/wp-json\/wp\/v2\/media\/1272869"}],"wp:attachment":[{"href":"https:\/\/trak.in\/stories\/wp-json\/wp\/v2\/media?parent=1272860"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/trak.in\/stories\/wp-json\/wp\/v2\/categories?post=1272860"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/trak.in\/stories\/wp-json\/wp\/v2\/tags?post=1272860"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}