Swiggy unfazed by urban demand slump, launches Rs 11,330 cr share sale

Quick Summary:

The company, which is present in over 650 cities and towns of the country, is launching the initial public offering (IPO) amid heightened concerns on urban demand slump, and the management stressed that it is unaffected by the broader trends in the economy.

Food delivery app Swiggy on Wednesday launched a Rs 11,330-crore initial share sale, asking investors to take a pie of Indian middle class' rising propensity of online ordering.

The issue comes amid a series of IPOs in the recent past including South Korean car maker Hyundai's mega Rs 28,000-crore issue.

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Article Details

Category: BusinessFinance

Markets: IndiaSouth Korea

Topics: Swiggy IPO date Consumer demand Swiggy Swiggy IPO Urban demand slump

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-30 @ 19:19:36 (1 days ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 733 words

Reading Time: 5 minutes read

Sentences: 26 lines

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Copyright Owner: © Business Standard

News ID: 23339343

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