If you are interested in stock market. You will be aware of the news that Swiggy is coming with its IPO. Swiggy had initially considered raising $1 billion (7,690 crore) via the IPO . And Swiggy changed its name Bundl Technologies Pvt Ltd to Swiggy Pvt Ltd before the IPO . Swiggy’s valuation has increased by 19% from $8.3 billion to $12.7 billion. today we will talk about Swiggy IPO Details. And we will also talk about Why did Swiggy change its name before IPO. and why Swiggy Valuation Is Increasing ?
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Swiggy IPO details
Swiggy’s rival company Zomato had entered the stock market in 2021. Look at this, Swiggy also planned to enter the stock market. Swiggy also raised $1 billion from the stock market. According to the news, Swiggy IPO will be seen this year. Before launching your IPO, the name has to be changed according to the registrar of the company. That process has been completed by Swiggy. And has also changed his name. And Swiggy has submitted all its documents to the registrar company. The funds raised through Swiggy IPO will be used for its upcoming plans. Swiggy can do something new to increase its profit
Why did Swiggy change its name before IPO?
Swiggy changed its name before IPO. Swiggy’s name will remain Swiggy. And you will see this app by the name of Swiggy in your phone. But the registered name of Swiggy will change. The old name of Swiggy was Bundl Technologies Pvt Ltd which has been changed to Swiggy Pvt Ltd. This has been changed after the permission of the Registrar. By changing the registration name of Swiggy, everyone knows Swiggy more than Swiggy. If Bundl Technologies Pvt Ltd is listed in Swiggy stock market, it will be shown to investors. That’s why Swiggy changed from Bundl Technologies Pvt Ltd to Swiggy Pvt Ltd.
why swiggy Valuation Is Increasing ?
After the news of Swiggy’s IPO. Swiggy’s valuation has increased by 19% from $8.3 billion to $12.7 billion.
Invesco had increased the valuation of Swiggy to $7.85 billion last year. After this, this figure increased to $8.3 billion in January, before which the valuation of the company was now estimated at $12.7 billion.
Apart from Invesco, US-headquartered asset management firm Baron Capital had also raised Swiggy’s valuation to $8.54 billion in August last year. Due to this, Swiggy’s valuation again increased to $12.1 billion last month.
This has brought the valuation closer to its rival Zomato.
how many bank are managing Swiggy IPO
Seven banks are managing Swiggy IPO including Kotak Mahindra capital, JPMorgon,
what is price of Swiggy Share ?
As of now Swiggy’s stock is unlisted.
Who is the CEO of Swiggy
Sriharsha Majety is CEO of Swiggy
Swiggy Is unicorn Company ?
Swiggy is India’s Top unicorn Company.
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