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Swiggy IPO opens aiming to raise 11327 crore with strong market valuation
Swiggy's initial public offer (IPO) opens for subscription today, aiming to raise Rs 11,327 crore. The Bengaluru-based food delivery firm is valued at approximately Rs 95,000 crore at the upper price band, with the issue consisting of a fresh share offering of Rs 4,499 crore and an offer for sale of Rs 6,828 crore.
Zomato's success attributed to funding scarcity and strategic business decisions
Saurabh Mukherjea of Marcellus Investment Managers attributes Zomato's success to the funding winter that limited competition, creating a duopoly in the food delivery market alongside Swiggy. He emphasizes that strategic business decisions during this period have been crucial for Zomato's growth.
digital firms face pressure for profitability ahead of swiggy ipo launch
As Swiggy prepares for its Rs 11,300 crore IPO on November 6, bankers emphasize the need for digital firms to demonstrate quick profitability. Unlike previous years, when companies could list without a clear path to profits, the current market demands visibility of profitability within two to three quarters post-listing.
swiggy emphasizes experimentation for quick commerce growth ahead of ipo
Swiggy is set to launch its second largest IPO of the year, with a price band of Rs 371-390, opening on November 6. Managing Director Sriharsha Majety emphasized the need for ongoing experimentation and adaptation in the quick commerce sector, while CFO Rahul Bothra noted that 20% of the increased capital will be directed towards expanding their dark store network.
Swiggy's IPO is attractively priced, with a trailing P/E ratio of -35.23x, significantly lower than competitor Zomato's 297x. Despite a higher price range than Zomato's Rs 247, Swiggy has reduced its FY24 losses to Rs 2,350.2 crore from Rs 4,179.3 crore, while revenue surged 36% to Rs 11,247.4 crore.
diwali stock picks include icici bank zomato and l&t for samvat 2081
Motilal Oswal Financial Services has identified ICICI Bank, Zomato, L&T, and Five Star Business Finance among its top stock picks for Samvat 2081. Other notable selections include Amber Enterprises, highlighting a diverse investment strategy for the upcoming financial year.
top stock picks for samvat 2081 focus on large caps and growth potential
As Samvat 2081 begins, the stock market remains robust, with Nifty 50 companies expected to achieve an 11.8% earnings CAGR from FY24-FY26. Following a record-breaking Samvat 2080, analysts suggest a shift towards large-cap stocks, indicating a need to rebalance portfolios away from small and mid-caps.
Q2 earnings season underway with major companies reporting financial results
The Q2 earnings season is in full swing, with major companies like TCS, HCL Technologies, and Infosys having reported their results. Today, firms including Maruti Suzuki, Adani Enterprises, and Cipla are set to announce their earnings. Notably, Honeywell Automation and Godrej Agrovet reported profit declines of 5.6% and 7.8%, respectively.
Q2 2024 earnings season gains momentum with major companies reporting results
Major companies including Coal India, JSW Steel, DLF, and Interglobe Aviation are set to release their Q2 earnings reports today, joining a wave of firms that have already reported results. Notable performances include Reliance Industries with a profit decline of 4.8%, while HCL Technologies and TCS reported profit increases of 10.5% and 5.0%, respectively. ICRA's profit rose by 15.6% to Rs 36.72 crore, and Oracle Financial Services Software saw a significant profit increase of 38.4% to Rs 577.70 crore.
ICICI Securities has maintained a BUY rating on Zomato, setting a target price of INR 300. In Q2FY25, Zomato achieved over 20% YoY growth in food delivery, while the gross take rate slightly declined due to an increase in 'zero delivery fee' orders. The company is expanding its restaurant base and has approved a fund raise of up to USD 1 billion to strengthen its balance sheet.
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