Swiggy, one of India's top unicorns backed by SoftBank, plans to file its draft red herring prospectus with SEBI by the first week of September 2024.
This move will mark Swiggy’s ₹10,400 crore ($1.3 billion) IPO as the second-largest for a venture capital-backed company in India, following Paytm. The company is targeting a valuation around $16 billion, which is 60% of Zomato's market cap. Swiggy previously filed confidential documents with SEBI in April, utilizing a new route allowing adjustments before the final submission.