💨 Abstract

Swiggy, a SoftBank-backed food delivery company, filed for a $1.25 billion IPO in India, aiming for a valuation of $15 billion. The company competes with Zomato and is expanding its quick commerce business, delivering goods in 10 minutes. The IPO comes amid surging Indian stock markets, and Swiggy plans to use proceeds for growth, repaying debt, and tech infrastructure.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖