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Swiggy’s IPO is all set to hit the street today. Its RHP provides interesting insights into India’s food services market, which comprises out-of-home consumption (dine out and takeaways) and online food delivery. Per the document, it is growing faster than the groceries market (proxy for home-cooked food) owing to lifestyle changes. The online food delivery market in India, which is underpenetrated relative to those in countries such as the US and China, is expected to outpace the growth of the food services market itself between 2023 and 2028
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