Food delivery firm Swiggy hires JP Morgan, I-Sec for $1-B IPO

Food delivery company Swiggy has hired investment banks JP Morgan and ICICI Securities for the launch of its USD 800 million-1 billion IPO. Swiggy plans to offer an about 10% stake in the IPO, which may be a mix of primary and secondary offering. Founded in 2014, Swiggy connects consumers to over 1,85,000 restaurant partners and stores in over 500 cities.