Swiggy Limited (Ticker: Pending), an Indian on-demand convenience platform, will launch its IPO on November 13, 2024, with shares to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE). Founded in 2014 as a food delivery service, Swiggy has expanded into grocery deliveries with its Instamart service and entered the retail distribution market following its 2023 acquisition of LYNK Logistics Limited.

The IPO aims to raise approximately $1.35 billion through a combination of new shares and an offer for sale. Proceeds will support investments in Swiggy’s subsidiary Scootsy, technology infrastructure, brand marketing, and business growth. The company recently transitioned from a private to a public limited entity, aligning with its strategy for transparency and growth in the competitive Indian delivery market.