Shares of Zomato settled at197.30 apiece on the NSE on Wednesday, April 10.
During the intra-day trade, it hit an all-time high price of199.60, just shy of the psychological barrier of200.
Swiggy recorded a $200 million loss for the nine months to December 2023 , according to an internal company document.
For the full fiscal year 2022–23, Swiggy made a loss of41.8 billion ($500 million), according to the document.
But the company's lower wage payouts and cuts in marketing spending will help it trim losses for the full year 2023–24.
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IPO-bound Swiggy is reaching out to high-net-worth individuals (HNIs) to buy its shares at a 20% discount on its current valuation, according to a media report on Wednesday.Swiggy's appointed wealth managers are "offering shares at350 a piece and at a valuation of80,000 crore," said a report on Entrackr.CNBC-TV18 reached out to Swiggy independently, but the company refused to comment on the story.Earlier, Invesco, a US-based asset management company (AMC), has pushed up Swiggy’s valuation by 19% to $12.7 billion in the run-up to its planned IPO, regulatory filings showed. The investor had led the food delivery startup’s $700-million round in January 2022 at a valuation of $10.7 billion.After that, Baron Capital , one of the company’s investors, had pegged Swiggy’s fair value at $12.2 billion as of March 2024, providing a boost to the IPO-bound startup.The series of mark-ups now push Swiggy’s valuation closer to that of its rival Zomato. Shares of Zomato settled at197.30 apiece on the NSE on Wednesday, April 10. During the intra-day trade, it hit an all-time high price of199.60, just shy of the psychological barrier of200. Swiggy recorded a $200 million loss for the nine months to December 2023 , according to an internal company document. For the full fiscal year 2022–23, Swiggy made a loss of41.8 billion ($500 million), according to the document. But the company's lower wage payouts and cuts in marketing spending will help it trim losses for the full year 2023–24.
