SoftBank-Swiggy deal gets CCI approval, two days before Zomato IPO

• SoftBank is reportedly looking to invest $450 million in the food delivery giant
• The Japanese conglomerate had sought CCI’s approval last month.
• The development comes only two days before Zomato goes for an IPO

India’s competition watchdog Competition Commission of India (CCI) has approved SoftBank’s request to invest in food delivery giant Swiggy. The development comes only two days before Zomato hits Dalal Street, with its initial public offering (IPO) to raise ₹9,375 crore.





According to media reports published earlier in April, SoftBank was looking to invest about $450 million in Swiggy at a valuation of $5 billion. The Japanese conglomerate had sought CCI’s approval last month before making the transactions.


According to an ET $4, this round is expected to be an extension of Swiggy’s $800 million round, which witnessed participation from marquee investors Falcon Edge, Amansa Capital, Think Investments, Carmignac and Goldman Sachs.