Swiggy converts to public limited company ahead of IPO
Swiggy has converted itself into a public limited company, ahead of an expected stock market listing later this year, according to documents filed with the Registrar of Companies (RoC).
The name of the food-delivery and quick-commerce major's holding company has been changed from Swiggy Private Limited to Swiggy Limited. The change comes as the firm is expected to file a draft red herring prospectus in the next few months, with an estimated $1-billion public listing on the cards towards the end of the year.
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Offering CollegeCourseWebsiteIIT DelhiIITD Certificate Programme in Data Science & Machine LearningVisitIndian School of BusinessISB Professional Certificate in Product ManagementVisitMITMIT Technology Leadership and InnovationVisitWith this, Swiggy is closer to joining a string of new-age internet companies looking to list on the public bourses. Late last year, firms like Ola Electric, FirstCry and Awfis filed their draft initial public offering (IPO) papers, while omnichannel beauty and personal care brand Mamaearth’s parent company Honasa Consumer went public in November.
News portal Entrackr was the first to report on Swiggy's conversion into a public limited entity.
On February 27, Swiggy had changed its registered name from Bundl Technologies Pvt Ltd to Swiggy Pvt Ltd. This was done to “help establish greater proximity and identification of the company’s corporate name with the company’s core brand, ‘Swiggy’,” the platform had said in the resolution
