Food delivery platforms Zomato and Swiggy are offering more incentives to their delivery partners, a standard practice they follow on festive periods, to ensure minimal disruptions in services on New Year's Eve amid strike call by gig workers' unions. Telangana Gig and Platform Workers' Union (TGPWU) and Indian Federation of App-Based Transport Workers (IFAT) have claimed that lakhs of workers are set to join the nationwide strike to demand better payouts and improved working conditions. The strike may affect the operations of food delivery and quick commerce firms like Zomato, Swiggy, Blinkit, Instamart and Zepto on New Year's Eve, when demand is at an all-time high, according to industry sources. Zomato has offered delivery partners payouts of Rs 120 to Rs 150 per order during peak hours between 6 pm and 12 am on New Year's Eve. The platform has also promised earnings of up to Rs 3,000 over the course of the day, subject to order volumes and worker availability, people in the know
The first strike was staged on December 25, which disrupted Swiggy and Zomato food deliveries during the day in Gurugram and Noida
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Delivery and quick commerce platforms are tightening operations and safety measures ahead of December 31 as gig worker unions plan a nationwide log-out strike over pay, conditions and social security
Swiggy share price extended losses to fourth session, while Eterna share price reversed gains on Friday. The share prices were trading 1.77 per cent and 0.53 per cent down, respectively, as of 9:40 a.
According to the worker unions, gig workers are demanding clear and fair pay systems and the withdrawal of "10-minute delivery" models, which they say put lives at risk
Burgers ranked second with 44.2 million orders, followed by pizza at 40.1 million. Veg dosa recorded 26.2 million orders
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Eternal remains the leader and Blinkit has the best financials and the best unit economics
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Out of more than 80 investors who showed interest, allocations were made to 61 investors, of which over 15 are new shareholders, according to the company
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At 10:34 AM, on BSE, 0.19 million shares were traded, while on the National Stock Exchange (NSE), 7.97 million shares changed hands
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At the indicative price, the company could issue about 269.5 million new shares, representing roughly 10.8 per cent of its pre-issue equity base of 2.49 billion shares
Zomato in 2024 had raised ₹8,500 cr via QIP
Swiggy shares rose 3 per cent after its shareholders approved raising up to ₹10,000 crore via qualified institutional placement
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A packed fundraising calendar, an anchor-allocation flashpoint, and a major shift in derivatives trading set the stage for one of the busiest - and most closely watched - weeks in markets