SoftBank-Swiggy deal gets CCI approval, two days before Zomato IPO
SoftBankis 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
Zomatogoes for an IPO
India’s competition watchdog Competition Commission of India (CCI) has approved SoftBank’s request to invest in food delivery giant
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 report, 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
Popular on BI
- 86-year-old removes ‘retirement’ from his dictionary to become a startup founder
- Two Indian-born mathematicians US, Canada get Padma awards
- Equal-weight index: For diversified investments with low volatility
- I wish we move ahead unitedly, PM Modi extends greetings on country's 74th Republic Day
- R-Day: Traffic islands, roundabouts in Lutyens' Delhi decked up with artistic floral designs