Swiggy gears up for IPO after launching 10-minute food delivery with Bolt

Swiggy is set to launch its initial public offering (IPO) later this year. The move follows the company’s recent expansion into ultra-fast food delivery with its new Bolt service, promising meals in just 10 minutes. If listed, Swiggy will join Zomato as the second publicly traded food delivery firm in India. The IPO will include a fresh issue of equity shares worth up to Rs 5,000 crore. Existing shareholders will also sell 18.52 crore equity shares as part of the offering. This comes as the company scales up operations across the country.

Swiggy’s Bolt service has already begun in select cities, including Bengaluru, Hyderabad, Mumbai, Chennai, Delhi, and Pune. The system relies on delivery partners covering short distances from busy restaurant hubs. Orders are fulfilled in under 10 minutes, targeting customers who prioritise speed.

The company plans to expand Bolt further based on customer response and operational performance. If successful, the service could redefine quick-commerce standards in India’s food delivery market. Swiggy’s IPO will mark a major milestone for the company, following its push into rapid delivery. The Bolt service, now live in six major cities, aims to set a new benchmark for convenience. The listing will also provide investors with a second publicly traded option in India’s competitive food delivery sector.