{"id":4652,"date":"2024-10-24T18:10:17","date_gmt":"2024-10-24T12:40:17","guid":{"rendered":"https:\/\/lakshmishree.com\/news\/?p=4652"},"modified":"2024-10-24T18:10:19","modified_gmt":"2024-10-24T12:40:19","slug":"swiggy-lowers-ipo-valuation-target-to-12-5-13-5-billion-amid-market-volatility","status":"publish","type":"post","link":"https:\/\/lakshmishree.com\/news\/swiggy-lowers-ipo-valuation-target-to-12-5-13-5-billion-amid-market-volatility\/","title":{"rendered":"Swiggy Lowers IPO Valuation Target to $12.5-13.5 Billion Amid Market Volatility"},"content":{"rendered":"\n

Food delivery giant Swiggy is reportedly aiming for a valuation of $12.5-13.5 billion for its upcoming IPO, reducing its target by 10-16% from the initial $15 billion. The decision comes amid market volatility and a recent correction in Indian stock markets, according to two sources familiar with the matter. Swiggy’s IPO, expected to raise $1.4 billion, will be the second-largest in India this year, following Hyundai India’s listing. The move aims to attract investors by leaving “a lot of value on the table,” one source said.<\/p>\n\n\n\n

This represents a markdown from its previous valuation, given the Nifty 50 index of India has fallen 7.15% since late September, partly because of foreign selling. Hyundai India’s listing also slumped 7.2%, reflecting tepid investor sentiment. Swiggy will list on November 13, with subscriptions likely opening the previous week. The SoftBank- and Prosus-backed Swiggy is aiming to start roadshows across India from October 30. It last raised capital in a 2022 round from US investor Invesco at a valuation of $10.7 billion.<\/p>\n\n\n\n

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Source:\u00a0ET<\/a><\/sup><\/sub><\/p>\n","protected":false},"excerpt":{"rendered":"

Food delivery giant Swiggy is reportedly aiming for a valuation of $12.5-13.5 billion for its upcoming IPO, reducing its target by 10-16% from the initial $15 billion. The decision comes amid market volatility and a recent correction in Indian stock markets, according to two sources familiar with the matter. Swiggy’s IPO, expected to raise $1.4 […]<\/p>\n","protected":false},"author":1,"featured_media":4654,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[50],"tags":[578],"class_list":["post-4652","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-indian-market","tag-swiggy-ipo-valuation"],"_links":{"self":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts\/4652","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/comments?post=4652"}],"version-history":[{"count":1,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts\/4652\/revisions"}],"predecessor-version":[{"id":4655,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts\/4652\/revisions\/4655"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/media\/4654"}],"wp:attachment":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/media?parent=4652"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/categories?post=4652"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/tags?post=4652"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}