Swiggy slashes IPO valuation target to USD 12.5-13.5 billion

BENFALURU: IPO-bound food delivery platform Swiggy, which was earlier targeting a USD 15 billion valuation, is now aiming for a valuation of USD 12.5 billion-USD 13.5 billion for its upcoming IPO due to market volatility.

As per reports, this cut is due to market volatility and also the ongoing correction in stock markets. When TNIE asked about it, Swiggy didn’t respond to the query.