Indian food delivery service Swiggy is thinking of filing for a domestic IPO as soon as this week, which would add to the nation's most robust share sales pipeline.  The people aware of this subject stated that Swiggy's initial public offering (IPO) may aim to raise more than $1 billion. According to the persons, the Bengaluru-based company is awaiting approval from the Securities and Exchange Board of India, or Sebi, before moving forward with the IPO filing. 

They indicated that specifics about the offering, including its size and timing, are still being discussed and could change.

  According to its website, Swiggy was founded in the year 2014 and works with more than 150,000 restaurants in India to help serve meals in the most populous country in the world. 

Its rivals include publicly traded Zomato Ltd., the India division of e-commerce giant Amazon.com, and BigBasket, a division of conglomerate Tata Group.

With support from SoftBank Group Corp., Swiggy would join the ranks of other domestic and foreign businesses looking to capitalize on the nation's economic expansion and demand from foreign investors. According to figures provided by Bloomberg, over $7.8 billion has been raised through first-time share sales thus far this year, already surpassing proceeds in each of the previous two years.  We anticipate more listings in the upcoming months. According to persons familiar with the situation, Hyundai Motor Co. intends to sell shares in its local Indian company this year in what could end up being one of the largest listings in Indian history. According to Bloomberg News, LG Electronics Inc. has selected banks for the possible IPO of its Indian company, which might result in a $1.5 billion profit.