Swiggy becomes a public entity prior to its IPO
By MYBRANDBOOK
The foodtech behemoth Swiggy has formally changed its holding company name to Swiggy Limited and gone public, as per the resolution passed by the board of directors of the company with the Registrar of Companies. The company is preparing for an initial public offering (IPO) and may seek a valuation in the range of $12-15 billion.
Swiggy on February 27 changed its registered name from Bundl Technologies Pvt. Ltd. to Swiggy Pvt. Ltd. The company took this step to “help establish greater proximity and identification of the company’s corporate name with the company’s core brand, ‘Swiggy’,” the food delivery platform had said at the time.
Swiggy claimed that the food delivery business of the company turned profitable as of March 2023. During FY23, the company reported Rs 4,179 crore in overall loss. Moreover, the company booked Rs 5,476 crore in revenue from operations during the first three quarters of the financial year FY24 and recorded $200 million (approximately Rs 1,600 crore) loss for the nine months.
The US-based asset management firm Baron Capital, last month, marked up the valuation of the company to $12.1 billion up from $10.7 billion during the last fundraise in January 2022.
BREAKING NEWS
TECHNO TRENDS
Google Pay has added "Open Wallet" shortcut
With the introduction of the "Open Wallet" shortcut, Google Pay has impro...
TRAI targets to finalise National Broadcast Policy by May-end
The Telecom Regulatory Authority of India will finalise the National Broa...
TAC Security becomes Cyber Security Assessor for the App Defen
The cybersecurity company, TAC Security has been selected as a key Cyber ...
InterGlobe’s Rahul Bhatia and C.P. Gurnani together announce
In a move that is set to transform the AI landscape, Rahul Bhatia, Group M...
E-Magazine
TECHNOTAINMENT
Salman Khan trolled for singing with B Praak at Anant Ambani's
To celebrate Mukesh Ambani's youngest son Anant Ambani’s 29th birthday
Disney+ Hotstar wins the Best OTT Platform of the year
Film Critics Guild and Group M Motion Entertainment, in collaboration with
MOVERS & SHAKERS
Nium Appoints Alexandra Johnson appoints as Chief Payments Off
Nium, the leader in real-time cross-border payments, today announced the ap
SISL elevates Ankita Wadhawan as CEO—End User Computing
The IT service provider, SISL in a LinkedIn post announced the elevation
OPEN YOUR EYES
INTERVIEWS
Technology and a robust partner network help position Allied T
Allied Telesis in India has a strong and growing team that is very customer
HPE Aruba Networking bridging the physical and digital worlds
The information technology industry is a critical component of the 21st cen
HOT PICK
Dell Technologies launches new AI-powered commercial PC portfo
Dell Technologies has launched the broadest portfolio of commercial AI lap
Canon India Introduces 4K Remote PTZ Camera Controller & 4K In
Canon India, a leading company in digital imaging solutions, further solidi
MAKE IN INDIA BRANDS
IBALL WORLDWIDE PVT. LTD.
FIREBOLTT
GLOBUS INFOCOM LTD.
TAC SECURITY SOLUTIONS
EMINENT CIO'S OF INDIA
ICONS OF INDIA
Technology Icons Of India 2023: Hari Om Rai
Hari Om Rai is the Co-founder, Chairman & Managing Director of Lava In...
Technology Icons Of India 2023: Sridhar Vembu
Sridhar Vembu is an Indian billionaire business magnate and the Founde...
Technology Icons Of India 2023: Sandip Patel
Sandip Patel is the Managing Director, IBM India/South Asia. He is res...
PARTNER SPEAKERS
PSU
C-DAC keeps India ahead in IT & Electronics R&D space
Centre for Development of Advanced Computing (C-DAC) is the premier R&...
BBNL empowering rural India digitally
BBNL provide high speed digital connectivity to Rural India at afforda...
BEL leveraging next generation technologies to keep the country ahead in Defence space
Bharat Electronics Limited (BEL) is a Navratna PSU under the Ministry ...
VIDEOS
Top 25 Brands
Value-Added Distribution
ACCERON INFOSOL PVT. LTD.
It is a leading value added distributor in the IT security space and h...
ADITYA INFOTECH LTD.
Aditya Infotech Ltd. (AIL) – the technology arm of Aditya Group, is ...
WPG C&C COMPUTERS & PERIPHERALS PVT. LTD.
WPG C&C Computers & Peripherals (India) was incorporated in 2008 and ...
ITFORUM 2024
WIITF 2024
CMO of the Year
WOMEN LEADERSHIP
EMINENT CIO's OF INDIA
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
