Swiggy, which has been valued at $10.7 billion in its series K funding will try to raise $1 billion in its IPO. The IPO is expected to be filed in the first half of next year.
Swiggy has Prosus Ventures, Accel and SoftBank among its backers and has recently hired JP Morgan and ICICI Securities in recent weeks to run its books for the IPO.
Swiggy has been consistently trying to reach its pre covid level of business and has been able to successfully get back most of its business.
“Our goal is to make Swiggy the platform that 100 million consumers can use 15 times a month. We will continue to invest in our people, products, and partners to create a positive impact on the ecosystem and accelerate the digital transformation in food and grocery delivery and other on-demand services,” Sriharsha Majety, co-founder and chief executive of Swiggy said in January.
