In its DRHP, the company highlighted that they plan to open dark stores in existing cities such as Bengaluru, Pune, Mumbai, Kolkata, and other new places

By Aditya Kalra, Ashna Teresa Britto and Haripriya Suresh NEW DELHI/BENGALURU (Reuters) -SoftBank-backed Swiggy filed papers on Thursday for an initial public offering, which a source said would be worth $1.

Swiggy reported a substantial reduction in its net loss for the fiscal year 2024, which stood at ₹2,350 crore, down by 44% from ₹4,179 crore in the previous year. The company’s revenue increased by 36%, reaching ₹11,247 crore in FY24 compared to ₹8,265 crore in FY23.

Swiggy, India's fast-growing food delivery and quick commerce giant, has filed papers for an Initial Public Offering (IPO) that could be among the largest in the country this year. The company, backed by Japanese conglomerate SoftBank,

Bengaluru-based food delivery firm Swiggy said on Thursday that it aims to raise 37.5 billion rupees ($448.56 million) in its initial public offering, which looks set to be among India's biggest listings this year.

BENGALURU (Reuters) -Softbank-backed food delivery firm Swiggy said on Thursday it aims to raise 37.5 billion rupees ($448.56 million) in its initial public offering, which looks set to be among India's biggest listings this year.

The Bengaluru-based start-up is targeting a valuation of US$15 billion through the IPO, said a source. Read more at straitstimes.com.

SoftBank-backed Swiggy filed papers on Thursday for an initial public offering, which a source said would be worth $1.25 billion, as the food delivery firm looks to tap a booming stock market in one of India's biggest listings this year.