Swiggy Sets IPO Price Band At INR 371-390

Foodtech giant Swiggy has set the price band for its upcoming IPO at INR 371-390 per share, aiming to raise INR 11,300 Cr. The IPO, one of the largest in India this year, includes a secondary sale component of INR 6,800 Cr and a primary capital infusion of INR 4,500 Cr. At the upper end of the price band, Swiggy’s valuation would reach $11.3 billion. The IPO is set to open on November 6 and close on November 8, with a single-day bidding opportunity for anchor investors on November 5. The funds raised will be used for debt repayment, expanding the dark store network, technology and cloud infrastructure, and brand marketing.