Swiggy Targets $12.7bn Valuation for $1.4bn IPO to be Launched Early November

Swiggy is targeting a valuation of $12.7 billion for its $1.4 billion IPO, set to launch in early November. The IPO will include a fresh issue of ₹3,750 crore and an offer for sale of up to 182,286,265 equity shares. The company plans to use the proceeds for investments in its subsidiary Scootsy, expanding its dark store network, and enhancing technology and cloud infrastructure. Key investors include Prosus, SoftBank, and Accel. The IPO is expected to be a significant milestone for Swiggy, positioning it strongly in the competitive food delivery market