Page 5 - Online Food Delivery

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

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

Swiggy's IPO debut tests demand for rapid-delivery firms in India

According to CLSA, these firms are set to top $78 billion in combined gross orders within a decade, potentially affecting existing consumer-product majors like Hindustan Unilever Ltd. and Marico Ltd

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

Swiggy's $1.4 bn IPO oversubscribed as investors bet on quick-commerce boom

The IPO received bids for more than three times the shares on offer at the end of the last day of bids. The portion reserved for institutional investors was subscribed six times

Swiggy $1.4 bn IPO opens for orders as Indian stocks lose some appeal

While India was an outlier in Asia with a string of high-profile offerings this year, Swiggy's IPO comes after a slide in Indian equities in October that is expected to extend into November

Swiggy seeks valuation of $11.3 billion; IPO to open on Wednesday

Food delivery and quick-commerce major Swiggy, which is coming out with its initial public offering (IPO) on Wednesday, is seeking a valuation of about USD 11.3 billion. The Bengaluru-based company is aiming to garner Rs 11,327 crore from the IPO, which will comprise a fresh issue of shares worth Rs 4,499 crore along with an offer for sale (OFS) of Rs 6,828 crore. Swiggy has set a price band of Rs 371 to Rs 390 per share for its maiden public issue. The issue will open for public subscription on November 6 and conclude on November 8. Speaking about the pricing, Swiggy Food Marketplace CEO Rohit Kapoor said, "We feel we have priced it right and we are looking forward to the next few days." The valuation of Swiggy has been pegged at about USD 11.3 billion (about Rs 95,000 crore) at the upper price band. Rival Zomato, which went public in July 2021, has a market valuation of Rs 2.13 lakh crore. "Our pricing is in the range of Rs 371-390 which corresponds to a value of about USD 11.3

Swiggy eyes 100 mn users, each ordering 15 times a month: CEO Majety

Food delivery giant anticipates strong growth in next decade

Swiggy IPO gets bids of $15 bn from big investors like Norges, Fidelity

Swiggy, a SoftBank-backed Indian food and grocery delivery giant, will next week launch its $1.35 billion IPO that will be country's second-biggest stock offering this year

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 introduces 'Swiggy Seal' during the festive season; what is this?

The Swiggy Seal, a badge for restaurants upholding strict hygienic standards, is introduced by Swiggy. Currently based in Pune, the project will eventually expand to more than 650 Indian locations

Swiggy's new feature to let NRIs order food, groceries, gifts in India

This permanent feature allows international users to not only order food but also access Instamart, Swiggy's quick commerce platform, and make table reservations via Dineout

Food delivery just got pricier: Swiggy joins Zomato with Rs 10 fee hike

Zomato has communicated that its festive season hike is temporary, whereas Swiggy has not offered any such clarification

Woman claims ex-boyfriend tracked her via food delivery app in Bengaluru

In Bengaluru, a woman found out that her ex-boyfriend working for a food delivery service, had been using the app to track her location even after their relationship ended

Zomato Q2 results: Profit rises 5x to Rs 176 crore, revenue up 69%

The company has also received approval from its board of directors to raise up to Rs 8,500 crore via QIP of equity shares

Zomato's CEO Deepinder Goyal launches health, wellness startup 'Continue'

Goyal, who has long expressed interest in health and wellness, has previously invested $10 million in Alpha Wave-backed Ultrahuman-a startup that makes health tracking wearables

Zepto looks to raise $100 million, marking third funding round in 6 months

Quick commerce startup Zepto is seeking funding from domestic sources, including Indian family offices and high-net-worth individuals, as it prepares for its upcoming IPO

More upside in Zomato's stock, but competition also rising in e-com sector

E-com platforms are likely to offer discounts and wider assortments during the festive season

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.