Food delivery major Swiggy to debut on stock market on Wednesday

Quick Summary:

It will use these proceeds for the expansion of its dark store network, investment in technology and cloud infrastructure, brand marketing, business promotion, and funding inorganic growth.

In FY24, Swiggy’s loss narrowed to Rs 2,350 crore from Rs 4,179 crore in FY23.

Swiggy’s listing comes at a time when the domestic markets are under intense selling pressure due to earnings disappointment and a sharp sell-off by overseas funds.

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Category: BusinessFinance

Markets: India

Topics: IPO Food delivery in India Swiggy IPO update Swiggy IPO listing date Swiggy Swiggy IPO Swiggy IPO GMP

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-12 @ 17:25:27 (1 days ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 433 words

Reading Time: 3 minutes read

Sentences: 22 lines

Sentence Length: 20 words per sentence (average)

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Copyright Owner: © Business Standard

News ID: 23552866

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