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

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.

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