Swiggy is our favourite app to order food but many people have questions in regards to investing in it. In this article we will try to answer the question – Is Swiggy Listed In Stock Market?
Food delivery platforms have taken India by storm, with billions of dollars invested in companies that deliver your favourite biryani in 20 minutes. Revenue from online food deliveries in India is expected to hit around $12.14 billion dollars in 2022 and is expected to reach $20.26 billion dollars by 2027. Swiggy and Zomato have both carved their names into the food delivery industry well before the new players arrived.
About the Company
Swiggy is a food delivery startup that delivers food from restaurants to customers’ homes, workspaces, or colleges. The startup was founded in 2014 in Bengaluru, India. All the local food restaurants, irrespective of the type of food/beverage they sell, are listed on the app. Through the application, customers place their orders. Before we answer the question Is Swiggy Listed In Stock Market let’s have a look at the company’s business.
How is Swiggy expanding its business?
Swiggy has acquired five companies in its history, with Dine Out being the latest purchase for $200 million dollars.
Dineout, Kint, Supr Daily, Scootsy, and 48East are the five companies that Swiggy has acquired over the years.
Swiggy is funded by 40 investors according to Crunchbase and among them are 14 lead investors.
Some of the venture capital firms that have funded the billion-dollar startup, according to EquityZen are Wellington Management, Tencent Holdings, Samsung Ventures, Accel, Norwest Venture Partners & SAIF Partners.
How much has Swiggy raised?
Source – Entrackr
The company is well funded and has received up to 3.6 billion dollars in funding so far.
Through this funding, Swiggy has conducted 5 acquisitions so far, with the latest one being Dineout for $ 200 million dollars in 2022.
Swiggy is valued at $10.7 billion dollars with the latest Softbank round raising 700 million dollars for the company. This doubled its valuation from 5.5 billion dollars last year.
Now to answer the question,
Is Swiggy Listed In Stock Market?
The answer is not yet. A company is considered to be publicly listed in India if its common stock is available on the Bombay Stock Exchange or the National Stock Exchange.
Note: Some of the Pre-IPO companies also trade in unlisted markets. You can search for the unlisted companies’ share prices on websites like Altius Investech, Unlistedzone.com, etc
Swiggy’s main competitor Zomato is listed on the NSE and BSE. It was incorporated in 2010, four years before Swiggy. Zomato went public in July 2021 with a price of ₹72 – ₹76 and opened at a premium of ₹126 per share. Since listing the company’s share price has been falling consistently. Swiggy and Zomato together hold a 90 percent market share over the food delivery market in India.
When will Swiggy go public?
Swiggy is planning on going public in the near future as early as late 2023, as per the Economic Times. The Swiggy IPO is expected to bring in $ 1 billion dollars through a public listing.
What Is Swiggy Share Price NSE?
Swiggy is currently not listed, although it is planning to go public in the near future, hence there’s no Swiggy share price NSE or Swiggy stock price. When the food delivery startup decides to file the DRHP (Draft Red Herring Prospectus), you can check the Swiggy share price or gray market price of the company on sites such as Altus Investech. One another query people have is – what is Swiggy stock name? The stock’s name on the index is decided by the stock exchange when the company goes public. Swiggy’s stock name is yet to be decided.
A DRHP is a preliminary document filed by companies that are looking to go public in the near future. The document includes all information about the company’s business operations, usage of funds, and future prospects and has to be filed before going public. This document is prepared by the Investment banks responsible for taking the company public. Once it is filed, it will give an idea of what swiggy share price will be.
Zomato, the biggest competitor of Swiggy is already listed on BSE/NSE.
It was incorporated in 2010, four years before Swiggy. Zomato went public in July 2021 with a price of ₹72 – ₹76 and opened at a premium of ₹126 per share. Since listing the company’s share price has been falling consistently.
Swiggy and Zomato together hold a 90 percent market share over the food delivery market in India. According to NRAI ( National Restaurant Authority India ), Zomato has a strong hold over north Indian markets and Swiggy is more dominant in the southern part of India.
While Swiggy might not be listed right now, it is planning the Swiggy IPO for F.Y. 2023, with ICICI Securities and J.P. Morgan hired as lead managers to launch the IPO. We hope you enjoyed reading our article “Is Swiggy Listed In Stock Market”. Happy Investing!
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