SoftBank’s Swiggy divestment may hand over the Japanese tech investor the biggest cashout as the food delivery firm strengthens its path to profitability
SoftBank is looking at partial/complete exits from listed startups with new investments now focussed on AI-led business models
Swiggy’s valuation, however, will be interesting to watch out reliant on FY24 financials as well as Zomato stock performance
Food delivery giant Swiggy is all set to list on the stock exchanges, likely in mid-2024, in what is being called the biggest IPO by an internet company next year, with an issue size of $1 Bn (INR 8,300 Cr). According to several top investors and founders that Inc42 spoke with, the Swiggy IPO may result in the world’s largest tech investor, SoftBank, substantially reducing its 9% stake worth over $800 Mn in the upcoming IPO.
The IPO could potentially mark the exit of several investors like SoftBank from Swiggy, as the food delivery firm…
