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, as per its latest updated DRHP submitted to SEBI, is going for a massive ₹10,250 crore (~$1.25B), making it one of the biggest in the country. The issue includes a fresh issue component of ₹3750 crore while an OFS (offer for sale) component worth ₹6500 crore.

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

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.

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,

Swiggy's IPO will consist of two main parts: a fresh issue of equity shares worth Rs 3,750 crore, and an offer for sale (OFS) of 18.52 crore shares by existing stakeholders.

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

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.

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.

The Swiggy IPO consists of a fresh issue of 37,500 million equity shares with a face value of ₹1 each and an offer for sale (OFS) of 185,286,265 equity shares