A Swiggy IPO could provide good returns, says SoftBank’s Masayoshi Son

Zomato’s stellar listing and a strong performance on the Indian bourses has given SoftBank’s founder Masayoshi Son confidence that Swiggy will be able to deliver ‘good returns’ it its goes for listing.

“If they go public, I believe that we will be able to see good returns from here too. That’s our expectation,” said Son on Tuesday in post earnings call with analysts.

Last month, Swiggy closed a $1.25-billion fundraise, marking the first investment in the category by SoftBank Vision Fund 2. This took the valuation of the Bengaluru-based startup up by more than 50 per cent to $5.5 billion from $3.6 billion earlier, according to industry sources. SoftBank has invested around $360 million to $450 million in this round into Swiggy (JPY).