Swiggy IPO:Indian food-delivery platform Swiggy Limited is preparing to launch an IPO. The company may file documents with SEBI for the IPO this week. According to Bloomberg news, Swiggy can raise more than $ 1 billion (100 million dollars) through its IPO. Bengaluru-based company Swiggy is waiting for approval from SEBI to proceed with the IPO filing.

Discussion including price band

According to the report, other details including the price band and date of the Swiggy IPO are still under discussion and changes are possible. However, there has been no statement from Swiggy in this regard yet. Let us tell you that Swiggy, founded in 2014, has partnered with more than 150,000 restaurants across India to help deliver food in the world's most populous country. It competes with companies like Zomato Ltd., the Indian unit of e-commerce giant Amazon.com Inc. and Tata Group's BigBasket.

IPOs of more big companies may come

Swiggy, backed by SoftBank Group Corp., would follow in the footsteps of other local and international companies seeking to tap the country’s economic growth and demand from global investors. About $7.8 billion has been raised through first-time share sales so far this year, more than proceeds in each of the past two years, according to data compiled by Bloomberg. More listings are expected in the coming months. Hyundai Motor Co. plans to sell shares in its local Indian unit this year in what could be one of the biggest listings in India. LG Electronics Inc. has tapped banks for a potential listing of its India business that could raise up to $1.5 billion.