Swiggy cuts valuation target for IPO to $12.5-13.5 billion: Report

Swiggy has reduced its valuation target for the upcoming IPO to $12.5-13.5 billion amid market volatility, Reuters reported. The target is 10-16% less than its previous aim for a $15 billion valuation. The food delivery platform is expected to launch its roughly $1.4 billion IPO next month and list shares on November 13.