Swiggy's $1.4 bln IPO oversubscribed as investors bet on quick-commerce boom
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 08 2024
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Source: Reuters
Swiggy's IPO Performance: Swiggy's $1.4 billion initial public offering was oversubscribed, with institutional investors showing strong interest; however, analysts predict a muted debut due to broader market weaknesses and ongoing profitability concerns.
Market Context and Competition: Despite Swiggy's significant market share in food delivery and quick commerce, it has yet to achieve profitability, contrasting with rival Zomato, which recently reported profits; the quick-commerce sector in India is rapidly growing, projected to reach $6 billion this year.
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.
