Page 6 - Food Delivery

Swiggy expects positive adjusted EBITDA by Q3FY26: Sriharsha Majety

Majety said that he is expecting to see a new wave of opportunities and selection opening for the quick commerce business

Swiggy Q2 results: Loss narrows to Rs 626 crore, revenue rises 30%

Its expenses grew 23 per cent as the company continued its quick commerce expansion

Swiggy expands 10-minute food delivery service 'Bolt' to over 400 cities

On-demand convenience platform Swiggy Ltd on Monday said it has expanded its 10-minute food delivery offering, Bolt, to over 400 cities and towns across India. Initially launched in Bangalore, Chennai, Hyderabad, New Delhi, Mumbai, and Pune, Bolt is now active in cities like Jaipur, Lucknow, Ahmedabad, Indore, Coimbatore, and Kochi as well, Swiggy said in a statement. Swiggy has expanded the 10-minute food delivery service to Tier-2 and Tier-3 cities such as Roorkee, Guntur, Warangal, Patna, Jagtial, Solan, Nashik and Shillong among others, it added. Andhra Pradesh and Telangana have witnessed the highest adoption for Bolt followed by Haryana, Tamil Nadu, Gujarat, West Bengal, Rajasthan and Punjab, it added. Swiggy said it is actively partnering with restaurants to optimise order prioritisation for Bolt orders that have food items with minimum or no preparation time. "To ensure safety of delivery partners, they are not informed of the distinction between Bolt and regular orders, a

Swiggy rallies 12% in 2 days after UBS initiates coverage with 'Buy' rating

UBS believes Swiggy is well positioned to benefit from the rapid growth in India's food delivery and quick commerce markets with an estimated GMV and revenue CAGR of 35% and 29% over FY24-27e.

Zomato opens Rs 8,500 cr QIP offering, sets floor price at Rs 265.91

Food delivery aggregator Zomato has approved and authorised the opening of its Qualified Institutional Placement (QIP), setting the floor price at Rs 265.91 per share. The company earlier stated it plans to raise Rs 8,500 crore via the QIP offering. Zomato CEO Deepinder Goyal had shared that the proposed fundraise is meant to strengthen its balance sheet. In a regulatory filing on Monday, the food delivery platform said the Fund Raising Committee of the Board has approved and authorised the opening of the issue. "We further wish to inform you that the 'relevant date' for the purpose of the issue, in terms of Regulation 171(b)(i) of the SEBI ICDR (Issue of Capital and Disclosure Requirements) Regulations, is November 25, 2024...," it said. Accordingly, the floor price, based on the pricing formula as prescribed under Regulation 176(1) of the SEBI ICDR Regulations is Rs 265.91 per equity share, the filing said. "Pursuant to Regulation 176(1) of a special resolution on November 22,

Zomato's Deepinder Goyal receives 10K applications for chief of staff role

Rs 20 lakh fee was a filter, says Zomato's Goyal

To be chief of staff at Zomato, CEO says forget salary, pay Rs 20 lakh fee

Goyal assured candidates that the chief of staff position will come with an annual salary of at least Rs 5 lakh ($60,000) from the second year if things work out

Zomato expects food delivery biz to grow 30% annually over 5 yrs: Executive

Zomato has also been rolling out new features, including scheduled delivery, option to grab canceled orders at discounted prices

Swiggy: From a forgotten idea to Rs 1 trillion market cap on listing

Swiggy is the first company to list through the Securities and Exchange Board of India's confidential listing route, highlighting the competitive nature of the sector

Expecting very solid growth for next 3-5 years: Swiggy CEO Majety

Food delivery and quick-commerce major Swiggy on Wednesday said it is expecting "very solid" growth in the next 3-5 years and plans to expand its geographical footprint and stores network for Instamart business. The company which made a strong debut on the stock exchanges on Wednesday said it has doubled the categories for quick commerce in the last 12 months. "We are expecting very solid growth for the next 3-5 years. We are expanding our geographical footprint, stores network for Instamart business," Swiggy CEO Sriharsha Majety said post the listing ceremony. Swiggy listed at Rs 412, reflecting a jump of 5.64 per cent from the issue price on the BSE. Later, it surged 15.12 per cent to Rs 449 apiece. The Rs 11,327-crore initial public offer of Swiggy got fully subscribed on the final day of the share sale on Friday, ending with 3.59 times subscription. The initial share sale had a price range of Rs 371-390 a share. The company's IPO (Initial Public Offering) had a fresh issue of

NSE and Zomato partner to boost financial literacy for delivery workers

The National Stock Exchange of India (NSE) on Tuesday said it has inked a pact with online food delivery platform Zomato to promote financial literacy and investor awareness programmes among the gig economy workers. This partnership aims to launch an extensive financial literacy and investor awareness drive, specifically designed for Zomato's delivery partners, impacting the lives of over 50,000 gig workers across the country, NSE said in a statement. As a part of the pact, fundamental aspects of personal finance management and the basics of investing will be covered. Topics will include budgeting, saving, investing, debt management, and insurance, among others. To ensure accessibility and inclusivity, the programme will be conducted in multiple regional languages, catering to a diverse audience among the gig workforce. "This partnership with Zomato is a significant step in expanding our outreach to a critical segment of the workforce that drives the digital economy. By equipping .

Swiggy pilots 'Yello' service marketplace as Zomato eyes concierge model

Swiggy and Zomato, India's top delivery platforms, are branching out beyond core food and grocery services. Swiggy's 'Yello' marketplace and Zomato's concierge model lead new initiatives

Rs 11K crore IPO in sight, Swiggy projects quick commerce as the future

Will surpass food delivery biz in 5 yrs, says CEO; announces India's 6th biggest initial issue

Here's why a lot can go wrong when everything arrives in just 10 minutes

To have at least half a dozen options for quick commerce is a good thing in an economy where concentration of large monopolies and duopolies is on the rise

Swiggy cuts IPO valuation again, to $11.3 bn, BlackRock and CPPIB to invest

Swiggy does not want a bad IPO, a source said. Its last funding round, led by Invesco, valued it at $10.7 billion in 2022

IPO-bound food delivery app Swiggy launches XL EV fleet for bulk orders

Swiggy's new XL fleet includes 20 specially designed electric vehicles that cater to large orders

Zomato share price falls 4% after Swiggy files IPO DRHP with Sebi

Swiggy's IPO move had investors buzzing about the competitive landscape in the food delivery market as Zomato's scrip slipped up to 3.64 per cent to an intraday low of Rs 273.50 per share.

Fast food delivery saves time but costs consumers Rs 9K-11K crore annually

A report reveals that food aggregators' pricing models include small, seemingly negligible fees, which can add up significantly, affecting consumers' wallets without immediate notice

Zomato bans AI-generated images from food menus to preserve authenticity

Effective from Monday (September 16), restaurants that fail to comply with the new rule against AI images will be removed from Zomato

Zomato teams up with IRCTC to offer food delivery service on trains

This collaboration aims to transform train journeys, enabling passengers to enjoy a variety of dishes from the comfort of their train seats