Swiggy is a food delivery platform offering a user-friendly interface, reliable delivery services, and various restaurant options. Through its platform, Swiggy offers restaurants valuable data on customer preferences, popular menu items, peak hours, and seasonal trends. This data helps restaurants make informed decisions about their menu offerings, pricing, and promotions.
Swiggy has raised around $606 million from over 75 anchor investors as part of its $1.35 billion IPO, aiming for an $11.3 billion valuation. The anchor investors include BlackRock, Fidelity, Norges Bank, BNP Paribas, HSBC, Nomura, Jane Street, Citadel, Motilal Oswal, Kotak, and 360 One, as well as mutual funds and insurance units operated by Indian lenders SBI, ICICI, Kotak, and HDFC.
Swiggy, Bangalore, Karnataka, India, was founded in 2014 by Nandan Reddy, Phani Kishan Addepalli, Rahul Jaimini, and Sriharsha Majety. In 2018, the company joined the unicorn club. With the IPO success and a robust vision for the future, Swiggy is well-positioned to continue its role as a leader and innovator in India’s food delivery and service solutions market.
Swiggy IPO Raises $606 Million from Institutional Investors