Swiggy Slashes IPO Valuation Target by 10-16% Amid Market Volatility, Eyes $12.5-$13.5 Billion

Swiggy has reduced its IPO valuation target by 10-16% amid market volatility, now aiming for a valuation between $12.5 billion and $13.5 billion. The decision comes as the Indian stock market faces fluctuations, impacting investor sentiment. Swiggy’s IPO, expected to raise $1.4 billion, will be one of the largest in India this year. The company plans to list on November 13, with pre-IPO roadshows starting on October 30. Despite the reduced valuation, Swiggy remains optimistic about its growth prospects and aims to attract significant investor interest.