By M. Sriram MUMBAI (Reuters) - Swiggy, the Softbank-backed food delivery company, is eyeing a 2024 stock market listing and has initiated talks with ...
STORY CONTINUES BELOW THESE SALTWIRE VIDEOSMUMBAI - Swiggy, the Softbank-backed food delivery company, is eyeing a 2024 stock market listing and has initiated talks with bankers to assess its valuation, after halting the process for months due to weak markets, three sources with direct knowledge of the matter said.
Swiggy is using the last funding round valuation of $10.7 billion as a benchmark for IPO planning, said one of the sources, who is directly involved in the planning process. But this source said the company has yet to decide on a potential stake sale or final valuation. Swiggy, JP Morgan and Morgan Stanley did not respond to requests for comment, while Bank of America declined to comment.
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