Indian food delivery company Swiggy plans a $1-1.2 billion IPO for expansion and competition.

Swiggy, the Indian food delivery company backed by SoftBank, plans to raise $1-1.2 billion in an IPO targeting a valuation of approximately $15 billion. The company aims to use the IPO proceeds to expand its quick commerce business, Instamart, and open more warehouses to compete with rival Zomato. This IPO could make Swiggy one of the largest Indian IPOs this year.