Indian food delivery giant Swiggy will be IPO ready by September 2023

According to reports, Swiggy is planning to become an IPO by September 2023. The food giant is said to have prepared for public listing later this year. With this step, Swiggy will soon join its tough competitor Zomato in the market.

Swiggy has been successful in bringing down the monthly burn to $5 million, as per an article. Swiggy’s is thriving at a time when many tech companies in the country are delaying their IPO’s. Prior this week, the giant appointed three independent board directors to the panel. Delhivery’s Sahil Barua, TAFE’s Mallika Srinivasan, Haribhakti & Associates’ Shailesh Haribhakti.

The company’s gross revenue has risen to Rs. 5,707 crore. But, it’s loss (annualy) also hiked upto Rs. 3,629.