India's Swiggy eyes $800m IPO next year amid stiff competition for market share

India's Swiggy eyes $800m IPO next year amid stiff competition for market share

Photo: Livemint

Indian food delivery company Swiggy has begun preparations to raise at least $800 million in an initial public offer early next year, three people familiar with the situation told Nikkei Asia.

Swiggy is hoping to raise the funds to expand market share amid stiff competition with Zomato in food delivery, while its newly launched quick commerce business is being challenged by Reliance Industries-backed Dunzo, Tata Group’s BigBasket, Zomato-backed Blinkit and Y Combinator-funded Zepto.

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