Swiggy's upcoming IPO will provide a public comparable for Zomato, testing India's appetite for large IPOs exceeding $1 billion amidst mixed past performances.
Swiggy has secured $1.4 billion from top investors including BlackRock, but faces a difficult market, with companies like Paytm trading 47% below their IPO value.
Despite a lack of interest in large IPOs, Indian tech startups are thriving. Smaller companies raising under $500 million have performed well compared to their larger counterparts.
The move of startups to India for IPO listings could align with local regulations and capitalize on a rising market benchmark index, indicating a trend of 36 startups relocating.
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