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- Swiggy, an Indian food delivery startup, plans to raise $1.25 billion in an IPO after securing shareholder approval.
- The company aims to raise $450 million through new shares and offer $800 million of shares from existing backers.
- Swiggy competes with Zomato and Zepto, and is currently valued at over $12 billion.
- It has a strong market position, with approximately 45.8% of the Indian food delivery market.
- Swiggy’s food delivery business is profitable, serving 16-17 million monthly transacting users.
- The company faces competition from Zomato and Zepto, particularly in the quick commerce business.
