India, April 28 -- Three years after Indian startups lined up for public listings in 2021, we are back on the IPO trail in 2024. And it's Swiggy which is looking to make the most of this renewed optimism.

The Bengaluru-based food delivery and quick commerce giant has reportedly taken the confidential filing route for an INR 10,414.1 Cr ($1.2 Bn) IPO. And it has the company of Indian unicorns such as Ola Electric, MobiKwik, Digit Insurance and FirstCry on the IPO road this year.

Interestingly, Swiggy's IPO plans come despite the company's inability to clear the profitability hurdle in FY24 by most accounts. And as we have seen over the past year, this is a critical factor for success in the public markets.

And at the same time, Swiggy's...