Swiggy Launches 10-Minute Food Delivery Service 'Bolt' Amid IPO Plans

The service focuses on quick-to-prepare meals from local and national restaurants within a 2 km radius, enhancing convenience for customers.

Swiggy's new service, Bolt, aims to deliver meals within 10 minutes by partnering with over 2,700 restaurants.
Bolt is available in six major Indian cities: Hyderabad, Mumbai, Delhi, Pune, Chennai, and Bangalore.
The service features popular dishes requiring minimal preparation time, including burgers, beverages, and biryani.
Swiggy's IPO plans include raising funds to expand infrastructure, marketing, and technology, with a potential post-IPO valuation of $10-13 billion.
Delivery partners are not incentivized or penalized based on Bolt delivery times, maintaining existing operational standards.