Swiggy Transitions to Public Limited Company Ahead of IPO

Swiggy has officially transformed from a private limited company to a public limited one in anticipation of its upcoming stock market debut later this year, as per documents filed with the Registrar of Companies.

The holding company of the prominent food-delivery and quick-commerce leader has been renamed from Swiggy Private Limited to Swiggy Limited.

This adjustment coincides with the company's intentions to submit a draft red herring prospectus in the coming months, paving the way for an anticipated $1 billion initial public offering towards the end of the year.

Swiggy is part of a cohort of modern internet firms aiming to debut on public stock exchanges.

Towards the end of last year, companies such as Ola Electric, FirstCry, and Awfis submitted their draft IPO documents.

Additionally, Honasa Consumer, the parent company of beauty and personal care brand Mamaearth, made its public debut in November.