Swiggy vs Zomato: Should you apply for Swiggy IPO or buy rival Zomato shares? Analysts weigh in
The highly-anticipated initial public offering (IPO) of online food and grocery delivery giant Swiggy is set to hit Dalal Street on November 6, aiming to raise approximately ₹11,327.43 crore from the primary market. Swiggy IPO comprises a fresh issue of 11.54 crore equity shares worth ₹4,499 crore and an offer-for-sale (OFS) component of 17.51 crore shares valued at ₹6,828.43 crore.
At the upper end of the price band of ₹371 to ₹390 per share, Swiggy IPO will value the Softbank-backed company at $11.3 billion, slightly higher than its valuation during the last funding round in 2022.
Market observers are drawing comparisons between Swiggy and its listed peer Zomato, which went public in July 2021 with a market capitalisation…
