By Aditya Kalra, Ashna Teresa Britto and Haripriya Suresh NEW DELHI/BENGALURU (Reuters) -SoftBank-backed Swiggy filed papers on Thursday for an initial public offering, which a source said would be worth $1.

The IPO is a fresh issue, with no offer-for-sale component and proceeds will be mainly used for acquisition of the Prestige Tech Platina asset

Bengaluru-based start-up is targeting a valuation of US$15 billion through the IPO, said a source. Read more at straitstimes.com.

SoftBank-backed Swiggy filed papers on Thursday for an initial public offering, which a source said would be worth $1.25 billion, as the food delivery firm looks to tap a booming stock market in one of India's biggest listings this year.

On September 26, 2024, Swiggy submitted updated draft papers to the Securities and Exchange Board of India (SEBI) for its upcoming initial public offering (IPO). This move follows its previous confidential filing and has generated significant interest.

Swiggy, India's fast-growing food delivery and quick commerce giant, has filed papers for an Initial Public Offering (IPO) that could be among the largest in the country this year. The company, backed by Japanese conglomerate SoftBank,

Swiggy's IPO will consist of two main parts: a fresh issue of equity shares worth Rs 3,750 crore, and an offer for sale (OFS) of 18.52 crore shares by existing stakeholders.