Rs 11K crore IPO in sight, Swiggy projects quick commerce as the future

On the cusp of launching its Rs 11,327 crore initial public offering (IPO) next week, food and grocery delivery major Swiggy believes quick commerce to be its future growth engine and anticipates that it will outpace its core food delivery business over the next five years. Currently, the quick commerce business of Swiggy — backed by Prosus and SoftBank — is 40 per cent of the size of its food delivery revenues.