Swiggy’s IPO plan gets green light from Sebi; launch likely in November

Food delivery major Swiggy has been given the go-ahead by the Securities and Exchange Board of India (Sebi) to launch its much-anticipated initial public offering (IPO), according to people in know.

The company — backed by major investors like Prosus, SoftBank and Accel, and valued $9.3 billion as of August 2023 — submitted its offer document on April 30 this year using the confidential pre-filing route, meaning details have been kept under wraps for now. However, reports suggest Swiggy is looking to raise Rs 11,000 crore, with a fresh issue worth Rs 5,000 crore.