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Ecommerce giant Amazon India has approached foodtech major Swiggy for a potential deal involving its quick commerce business Instamart

The latest development comes at a time when Swiggy is gearing up for its public listing. The foodtech giant filed its draft red herring prospectus (DRHP) confidentially with the Securities and Exchange Board of India (SEBI) in April.

Swiggy aims to raise over INR 10,000 Cr through the IPO, which will likely include a fresh issue of shares worth INR 3,750.1 Cr and an offer for sale (OFS) component of up to INR 6,664 Cr.

The report added that there is no official offer on the table yet, and Amazon's headquarters in Seattle will need to act quickly for any chance of advancing the talks to the next stage.

Amazon India Swiggy Instamart e-commerce quick commerce stake acquisition IPO placement buyout proposal food delivery logistics business deal Indian startup ecosystem Investment News