Swiggy is considering increasing its public offering by $150 million, thereby raising its total target to $1.4 billion, making it one of India's largest IPOs this year.
The startup, which has a last valuation of $10.7 billion, seeks a $15 billion valuation at the IPO, showcasing its ambition amid a competitive landscape.
Swiggy's quick commerce service, Instamart, reported a GMV at a $1 billion run rate, indicating significant operational scale despite fierce competition.
With intensified competition in the food delivery sector, analysts expect increased rivalry among top players over the next year, as they encroach on each other's markets.
Collection
[
|
...
]