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Swiggy gets SEBI nod for IPO, November launch likely

The company is now expected to initiate discussions with anchor investors to secure significant pre-IPO investments

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BestMediaInfo Bureau
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New Delhi: Food and grocery delivery platform Swiggy has taken a significant step towards its highly anticipated initial public offering (IPO). The company has received approval from the Securities and Exchange Board of India (SEBI) for its confidential filing of draft share sale documents.

Swiggy's path to the IPO market has involved a confidential filing process, which allows companies to submit their draft red herring prospectus (DRHP) without public disclosure. The SEBI's approval indicates that the regulator has found the company's filings to be in compliance with the necessary requirements.

Following the SEBI nod, Swiggy will be required to file two updated DRHPs. The first will address any comments or concerns raised by SEBI during the review process. The second DRHP will be open for public comments for a period of 21 days. Once these steps are completed, the company can proceed to file the final red herring prospectus (RHP) and launch its IPO.

While no definitive date has been set, reports suggest that Swiggy's IPO could potentially launch in November. The company is now expected to initiate discussions with anchor investors to secure significant pre-IPO investments.

This development marks a crucial milestone for Swiggy, as it positions the company to raise substantial capital through its public listing. The IPO is expected to generate significant interest from investors, given Swiggy's strong position in the Indian food delivery market.

Swiggy IPO
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