Swiggy, along with Zomato, dominates over 90% of India's food delivery market. This market is projected to expand to ₹2 lakh crore by 2030. While Zomato went public last year, Swiggy is preparing to follow suit in the upcoming months. The company was valued at $10.7 billion during its last fundraising round in January 2022.

Swiggy recently upsized its IPO to $1.4 billion, amid intensifying competition in the online grocery delivery space, where its platform Instamart competes with the likes of Zomato-owned Blinkit, Zepto

Food and grocery delivery giant Swiggy is gearing up to file its Draft Red Herring Prospectus (DRHP) this weekend, according to reports from Moneycontrol.