Swiggy and PayU to Conduct IPOs in 2024
Food delivery giant Swiggy and fintech major PayU are gearing up for their much-anticipated IPOs in 2024. The two companies have been meeting with investment banks to finalize their advisors and plans for the IPOs.
Swiggy is targeting a valuation of around $10 billion for its IPO, while PayU is looking for a valuation of $6 billion to $6.5 billion. Both companies are expected to file confidential DRHPs (draft red herring prospectuses) with SEBI in March 2024.
Swiggy’s IPO will be the biggest in India since Paytm’s IPO in 2021. The company has been growing rapidly in recent years, and its food delivery business turned profitable in the March quarter of FY23. Swiggy is also expanding into new areas such as quick commerce and grocery delivery.
PayU is also a fast-growing company. Its India unit reported revenue of $400 million in FY23, and its credit business grew by 112%. PayU is also expanding into new areas such as neobanking and insurance.
The IPOs of Swiggy and PayU are expected to be well-received by investors. Both companies are leaders in their respective sectors, and they have strong growth prospects. The IPOs will also be a test of investor sentiment towards Indian tech startups.
Here are some of the key takeaways from the article:
- Swiggy and PayU are planning to conduct IPOs in 2024.
- Swiggy is targeting a valuation of around $10 billion, while PayU is looking for a valuation of $6 billion to $6.5 billion.
- Both companies are expected to file confidential DRHPs with SEBI in March 2024.
- Swiggy’s IPO will be the biggest in India since Paytm’s IPO in 2021.
- PayU is also a fast-growing company with strong growth prospects.
- The IPOs of Swiggy and PayU are expected to be well-received by investors.
Related News
- 22 Sep
Samhi Hotels Stock Lists with 6.75% Premium, Analysts Recommend Booking Profits
Samhi Hotels stock made a weak debut on the stock exchanges, listing at a premium of just 6.75% over the IPO price. Several analysts have recommended booking profits in the stock, citing its loss-making status and negative net worth.
- 22 Sep
Signature Global IPO Subscribed 11.88 Times on Final Day
The Signature Global IPO was subscribed 11.88 times on the final day of bidding. The company will use the proceeds to repay debt and for land acquisitions and general corporate purposes. The IPO is expected to list on October 4, but this may change due to the new timeline of T+3.
- 22 Sep
Sai Silks IPO Oversubscribed 4.4 Times on Final Day of Bidding
Sai Silks IPO was oversubscribed 4.4 times on the final day of bidding, with qualified institutional buyers and high networth individuals supporting the issue on closing day. The net fresh issue proceeds will be utilized by the company mainly for the setting up of 30 new stores, two warehouses, working capital requirements and repaying debts. The trading in its equity shares will commence with effect from October 4, as per the IPO schedule.
- 22 Sep
Pharma company Valiant Laboratories to go public on September 27
Pharma company Valiant Laboratories is going public on September 27 at a price band of Rs 133-140 per share. The company plans to raise Rs 152.46 crore via the IPO. Proceeds will be used to fund the expenditure for setting up a manufacturing facility for speciality chemicals and for working capital requirements and general corporate purposes. Valiant Laboratories is a Mumbai-based API and bulk drug manufacturing company with a focus on Paracetamol. It is owned by the promoters including Dhanvallabh Ventures LLP, which holds 62.5 percent shareholding. Valiant Organics, the listed entity on the BSE and NSE, is the promoter of Dhanvallabh Ventures LLP with 73.15 percent stake.
- 21 Sep
Unihealth Consultancy makes tepid debut on NSE Emerge
Unihealth Consultancy, a healthcare service provider, made a tepid debut on the NSE Emerge platform on September 21, listing at Rs 135, a 2.2 percent premium over its issue price of Rs 132. The stock was trading at Rs 137.30 at 11.40 am. The company has a number of positives going for it, such as its strong growth potential, its diversified business model, and its focus on the African market. However, investors who are considering investing in Unihealth Consultancy should carefully consider the company's fundamentals, the current market conditions, and their own risk appetite before making a decision.
Leave a Reply