Swiggy, the food tech giant gearing up for its IPO, has introduced “Bolt,” a 10-minute food delivery service aimed at meeting the growing demand for ultra-fast deliveries. Initially available in six cities—Bangalore, Hyderabad, Mumbai, Chennai, Delhi, and Pune—Bolt offers a curated menu of fast-prep dishes like burgers, beverages, breakfast options, and biryani, alongside ready-to-pack items such as ice creams, snacks, and sweets.
According to Rohit Kapoor, CEO of Swiggy Food Marketplace, the service will expand to more locations based on customer feedback, catering to evolving consumer needs.
In tandem with this launch, Swiggy is making significant strides towards its IPO. During a recent Extraordinary General Meeting (EGM), the company’s shareholders approved increasing the fresh issue component of its IPO from Rs 3,750 crore to Rs 5,000 crore. This expansion boosts the total potential IPO size to Rs 11,664 crore, with Rs 6,664 crore allocated for the offer-for-sale (OFS) component.
Swiggy’s IPO, expected later this year, is poised to be one of the largest public offerings in the Indian tech space. With major investors like Prosus, SoftBank, and Accel on board, the company’s public debut is anticipated to make waves in the market.