Will there be a move away from Zomato when Swiggy lists? Rahul Jain explains

economictimes.indiatimes.com:

Rahul Jain, VP, Dolat Capital, says the competitive intensity could be slightly different once the Swiggy IPO happens because the objective of achieving profitability was more important from a IPO perspective and once that happens, the competitive landscape may become slightly larger from post listing perspective.

It seems like Swiggy is all set, at least got the shareholder nod for that mammoth IPO in the offing which all of us have been waiting for. But in terms of valuation, how do you think it stacks up to Zomato because even Zomato valuations have quite peaked out in the last one year or so?
Rahul Jain: When it comes to valuation, we have seen there is a significant rise and that was due to two reasons – one, of course the way the Blinkit business has scaled up and looks like a second optionality for the Zomato shareholders beyond the food ordering business and of course the path to profitability which they have been guiding and consistently achieving those objective in a time frame which they have been identifying.

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Those things have definitely worked for it. An interesting thing from a valuation point of view and valuation equilibrium point of view would be decided once the IPO goes through because the competitive intensity could be slightly different once the