Swiggy reportedly passed a special resolution to change its name to Swiggy Private Limited

It has been announced that Swiggy, formerly known as Bundl Technologies Private Limited, has passed a special resolution to become Swiggy Private Limited. 

The move is intended to bring the company's corporate identity closer to its well-known brand, according to many media sources. As the massive meal delivery company is ready for its public market launch, the study is released.

According to reports, Swiggy is about to submit its draft red herring prospectus for the IPO valuation—which has a $11 billion target—to the Securities and Exchange Board of India. Through the IPO, the business hopes to raise about $1 billion (Rs 8,300 crore).