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
- Micron begins construction on $2.7 bn India semiconductor plant in 'epic' beginning
- India, Japan agree to strengthen economic cooperation including achieving progress on high-speed railway project
- India rises to No 1 in ODIs, becomes top ranked team in all formats
- Discover what's new in iOS 17: Your ultimate guide to the latest features
- Hyderabad-based ethnic retailer Sai Silks Kalamandir IPO subscribed 4.4x