Softbank-backed Swiggy is set to file its Draft Red Herring Prospectus (DRHP) with SEBI this week to launch an initial public offering (IPO). The Bengaluru-based food delivery platform aims to raise over $1 billion and is targeting a valuation of around $15 billion. Founded in 2014, Swiggy competes with Zomato and other rivals like Amazon and Tata Group’s Bigbasket. Despite reporting revenue of ₹5,476 crore and a loss of ₹1,600 crore for FY2024, Swiggy’s food delivery business is profitable. The IPO will bring Swiggy alongside other tech companies like Zomato and Paytm in the public market.