Swiggy’s November 2024 IPO was priced at ₹390 per share, implying a valuation of up to $11.3 billion at the top of its proposed price band. TechCrunch reported that this was 57% below Zomato’s market capitalization at the time—not a comparison of their current values.
What did Swiggy’s $11.3 billion IPO valuation mean?
The $11.3 billion figure was the valuation TechCrunch reported Swiggy was seeking at the upper end of its proposed IPO price band, ₹390 per share. It was an IPO-implied valuation, not the amount of cash Swiggy would receive from the offering.
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TechCrunch described the figure as a 57% discount to Zomato’s market capitalization at that time. The comparison was between Swiggy’s proposed valuation and the listed-market value of Zomato’s shares, and it is specific to the period around the IPO announcement. It should not be read as a statement about either company’s value today. TechCrunch’s October 30, 2024 report
How did the price band compare with Swiggy’s earlier valuation?
The reported IPO price band was ₹371–₹390 per share. At the top end, TechCrunch said Swiggy’s implied IPO value represented a modest premium to its $10.7 billion private-market valuation from early 2022. The figures come from different valuation settings—an IPO price proposal and a prior private-market valuation—so they are useful context, not a direct measure of investment performance. TechCrunch’s report on the price band and prior valuation
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- Visa Virtual eGift Cards are designed for online use only. Gift Cards are subject to Terms and Conditions: a.co/5bw3qXJ
- When you access your Visa Virtual eGift Card for the first time, you’ll need to register your name, address, phone number, and email address via activationspot.com. These details should also be used as your billing address for online purchases, as many merchants require address verification for purchase authorization.
- This Visa Virtual eGift Card is non-reloadable. No cash or ATM access. Visa Virtual eGift Cards are emailed active.
- Funds do not expire but your Visa Virtual eGift Card has a ‘valid thru’ date (9 years from date of purchase). If funds remain after this date has passed, please call the Toll Free number found on your Visa Virtual eGift Card for a replacement card. A one-time purchase fee applies at the time of checkout.
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What was the final offer price and size?
Swiggy’s final prospectus set the offer price at ₹390 per share and the total offer at ₹113,274.27 million. The offer had two distinct components:
| Component | Amount | Who received the proceeds? |
|---|---|---|
| Fresh issue | ₹44,990.00 million | Swiggy, as proceeds from newly issued shares |
| Offer for sale | ₹68,284.27 million | Selling shareholders, for their existing shares |
| Total offer | ₹113,274.27 million | Combined amount of the fresh issue and offer for sale |
That distinction matters: the total offer amount was not all new capital for Swiggy. Only the fresh issue generated proceeds for the company; the offer-for-sale proceeds went to shareholders selling existing shares. Swiggy investor-relations archive and prospectus
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When were the offer documents filed?
Swiggy’s investor-relations archive lists its red herring prospectus dated October 28, 2024, and its final prospectus dated November 8, 2024. SEBI’s filing page records the final prospectus filing on November 11, 2024. Swiggy investor-relations archive · SEBI public-issues filings
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- No returns and no refunds on gift cards. Good for use on the US Google Play Store only. Terms apply - see below.
- Google Play gift codes can be used on the Google Play Store, the official app store for Android, to purchase apps, games, and more.
- To redeem, enter code in the Play Store app or play.google.com.
- Endless games to explore: Find and play old and new favorites – from mind-bending puzzles to epic quests and more.
- Just the app you’re looking for: Millions of apps means millions of ways to get things done, learn something new, and maybe even meet someone special.
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- Visa Virtual eGift Cards are designed for online use only. Gift Cards are subject to Terms and Conditions: a.co/5bw3qXJ
- When you access your Visa Virtual eGift Card for the first time, you’ll need to register your name, address, phone number, and email address via activationspot.com. These details should also be used as your billing address for online purchases, as many merchants require address verification for purchase authorization.
- This Visa Virtual eGift Card is non-reloadable. No cash or ATM access. Visa Virtual eGift Cards are emailed active.
- Funds do not expire but your Visa Virtual eGift Card has a ‘valid thru’ date (9 years from date of purchase). If funds remain after this date has passed, please call the Toll Free number found on your Visa Virtual eGift Card for a replacement card. A one-time purchase fee applies at the time of checkout.
- This item is not eligible for refund, resale, or return. Available for sale within the United States only. Not available to residents of Puerto Rico, Hawaii, New Mexico, South Dakota, West Virginia and the US Virgin Islands.
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