Swiggy Valued At $11.5 Bn By Investor 360 One: Report

Restaurateur Accuses Swiggy Of Levying Hidden Charges

SUMMARY

According to an investor presentation seen by ET, 360 One WAM reported that Swiggy generated INR 7,474 Cr in revenue during the first half of fiscal 2024

This is the latest valuation for Swiggy from a private investor, as the Bengaluru-based company progresses through a $1.25 Bn IPO process

In April, Swiggy filed for an IPO through a confidential pre-filing with SEBI

Swiggy’s backer 360 One WAM valued the IPO-bound foodtech major at $11.5 Bn as of June.

According to an investor presentation seen by ET, 360 One WAM reported that Swiggy generated INR 7,474 Cr in revenue during the first half of fiscal 2024. This projects to an annualised revenue of INR 14,947 Cr for the full year ending in March.

ET added that the final revenue figure may vary due to cyclical changes in food delivery orders, and will be confirmed when Swiggy discloses its annual financial results.

This is the latest valuation for Swiggy from a private investor, as the Bengaluru-based company progresses through a $1.25 Bn IPO process.

The report further added that Swiggy’s valuations vary among investors. Baron Capital valued the company at $14.76 Bn in June, down from $15.1 Bn three months earlier. Despite these fluctuations, Swiggy is anticipated to receive SEBI approval soon and file its IPO next month.

In April, Swiggy filed for an IPO through a confidential pre-filing with the Securities and Exchange Board of India (SEBI). The company has received shareholder approval for an IPO valued at INR 10,414.1 Cr ($1.2 Bn).

The offering will consist of a fresh issue of shares worth INR 3,750.1 Cr (approximately $449 Mn) and an offer-for-sale component of INR 6,664 Cr (around $799 Mn), according to regulatory filings.