Today, November 8, is packed with significant events across various sectors. From the announcement of Q2 FY24 results by 164 companies, including SBI, LIC, and Tata Motors, to the ongoing Swiggy IPO subscription and PM Modi’s campaign rallies in Maharashtra, the day promises a mix of business, politics, and legal developments. Get ready for a busy day with our comprehensive roundup of top events.
This week’s data-driven insights delve into the Indian economy’s diverse facets. From a surging stock market to softening urban demand and the anticipated Swiggy IPO, this report provides a comprehensive analysis of key trends.
Indian markets rallied, Adani Ports saw strong earnings, Ola Electric shares crashed, and Swiggy is set for its IPO. Meanwhile, Hezbollah appointed a new leader and the Election Commission rejected Congress claims on Haryana polls.
This article covers the latest global news, including Cyclone Dana’s impending landfall in India, the high-stakes Maharashtra Assembly elections, the escalating India-Canada diplomatic row, key company Q2 results, and the latest developments surrounding Swiggy’s upcoming IPO. Read on for detailed insights and updates on these major events.
Swiggy has received approval from its shareholders for an initial public offering (IPO) worth $1.2 billion. The IPO consists of a ₹3,750 crore ($450 million) fresh issue and a ₹6,664 crore ($800 million) offer-for-sale (OFS) component. The IPO is expected to open for subscription sometime this year. Swiggy recorded a $207 million loss for the nine months to December 2023, with a revenue of $1.02 billion during the same period. In fiscal year 2022-23, its revenue was at $1.05 billion.
