Swiggy Plans to Submit Draft IPO Papers Through SEBI's Confidential Filing Route

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Swiggy, a food tech giant, to file IPO papers confidentially with SEBI after shareholders approve $1.25B IPO.

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Unlike the public route, a confidential filing hides business details. Swiggy aims to raise up to $800M through an offer-for-sale.

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Swiggy's IPO follows Oyo's move last year. For the nine months to December 2023, a loss of $207M was recorded against $1.02B revenue.

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Swiggy's revenue rose 45% to Rs 8,625 crore in FY23, with a net loss of Rs 4,179 crore. Zomato, a rival, saw revenue rise 66% to Rs 7,761 crore in FY23.

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