Deals29 Jul 2025, 03:51 pm
Swiggy Ltd Completes Significant IPO, Raises USD 1.34 Billion in 2024
AI Summary
Swiggy Ltd, a leading Indian convenience-led commerce platform, marked a defining milestone by listing on India’s capital markets in November 2024, raising USD 1.34 billion through its initial public offering (IPO). The IPO was a combination of a USD 533 million fresh issue and an offer for sale (OFS) of USD 809 million, making it the second-largest technology IPO globally in 2024. The IPO provided liquidity to existing investors and current as well as past employees who have contributed significantly to Swiggy's growth journey. The company aims to build a resilient, sustainable business that delivers value to all stakeholders, including shareholders, customers, partners, employees and the community.
Key Highlights
- Swiggy Ltd raised USD 1.34 billion in its IPO in 2024
- The IPO was the second-largest technology IPO globally in 2024
- The IPO provided liquidity to existing investors and current as well as past employees
- Swiggy's IPO was the first Indian issuer to complete an IPO via the confidential filing mechanism
- The IPO was subscribed 3.59 times, underscoring investor confidence in the brand and vision