SoftBank-Backed Swiggy Files for Initial Share Sale in India (1)

Indian food-delivery platform Swiggy Ltd. filed documents for an initial public offering in a share sale that is expected to be one of the nation’s biggest this year.

Swiggy plans to sell 37.5 billion rupees ($448 million) of new shares, while its shareholders including funds affiliated to Naspers Ltd. and Norwest Venture Partners will sell as many as 185.3 million shares, according to its updated draft red herring prospectus. SoftBank Group Corp. is among the key backers of the firm.

Founded in 2014, Swiggy partners with more than 150,000 restaurants across India to help deliver food in the world’s ...