Breakingviews - India's stock market has a rising local flavour
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 06 2024
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Source: Reuters
Swiggy's IPO Launch: Indian food and grocery delivery company Swiggy is set to begin accepting orders for its $1.35 billion initial public offering (IPO) on November 6, despite market volatility due to U.S. elections, aiming for a valuation of up to $10.4 billion.
Market Context: The IPO comes as Swiggy's competitor Zomato plans a significant secondary equity offering, while domestic investors are increasingly active in the Indian stock market amid foreign investor sell-offs, indicating a shift in market dynamics.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
