IPO-bound Swiggy sets valuation target at $11.3 billion to aid retail participation; Issue to open post Nov 6

Swiggy IPO: Food delivery giant Swiggy plans to list at a valuation of $11.3 billion for its upcoming initial public offering (IPO), a person familiar with the development told Mint on the condition of anonymity. The earlier plan was to list at a higher $15 billion valuation or above. However, Swiggy has slashed its IPO valuation target due to the current volatility in the Indian stock market and to ensure greater retail investors’ participation.