Before its IPO, Swiggy Became a Public Limited Company

In advance of its anticipated stock market debut later this year, Swiggy changed its legal status from a private limited company to a public limited company, per documentation filed by the company with the Registrar of Companies.

The business is now planning a $1 billion initial public offering of shares near the end of the year, and it is anticipated to publish a draft red herring prospectus in the coming months, as reported by The Economic Times.

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Recently, Swiggy has appointed Suparna Mitra as an independent director to its board. The first news of Swiggy's transformation into a public limited company came from Entrackr.

Before submitting its draft IPO documents, Swiggy is making significant efforts to enhance its financial performance and reduce cash burn, particularly for its Instamart quick-commerce segment.

About Swiggy

Swiggy is an on-demand delivery platform with a tech-first approach to logistics and a solution-first approach to consumer demands.

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