In the realm of food delivery giants, Swiggy is making waves with its ambitious plans for its upcoming stock market offering. With a target valuation of approximately $15 billion, Swiggy aims to raise $1-1.2 billion through this IPO, setting the stage for one of the biggest Indian IPOs of the year. Compare that to Zomato, which currently boasts a market valuation of around $28 billion after its shares more than doubled since its listing in 2021.

Swiggy has been tight-lipped about the details, stating in response to a Reuters query that they could not comment on “any market speculation.” However, the company’s last funding round, led by Invesco in 2022, valued Swiggy at $10.7 billion, indicating strong investor confidence in the brand.