Swiggy IPO Raises $606 Million from Institutional Investors, Secures $11.3 Billion Valuation
Swiggy, the leading Indian food delivery and quick commerce startup, has successfully raised around $606 million from a diverse pool of over 75 anchor investors as part of its $1.35 billion initial public offering (IPO). This remarkable fundraising achievement positions the Bengaluru-based company for the second-largest listing in India this year, with an ambitious $11.3 billion valuation.
The anchor investment round saw bids worth a staggering $15 billion, showcasing the immense investor confidence in Swiggy’s growth potential. Indian institutional investors secured a significant portion, accounting for around 56% of the overall anchor allocation. Eight of the top 10 Indian mutual funds have also participated in this strategic investment round.
The anchor investors include renowned global financial powerhouses such as BlackRock, Fidelity, Norges Bank, BNP Paribas, HSBC, and Nomura, as well as prominent Indian entities like Motilal Oswal, Kotak, and 360 One. Additionally, the list encompasses mutual funds and insurance units operated by leading Indian banks, including SBI, ICICI, Kotak, and HDFC.
Swiggy, which has secured backing from renowned investors like Prosus, SoftBank, Accel, and Coatue, stands as a formidable competitor to other major players in the Indian food delivery and quick commerce landscape, such as Zomato and Nexus-backed Zepto.
The successful anchor investment round and the impending IPO listing next week underscore Swiggy’s resilience and growth trajectory, as the company continues to captivate the Indian market with its innovative and user-centric solutions.
