Page 15 - Swiggy

Zomato, Swiggy face CCI probe over allegations of favouring big chains

The CCI found that Zomato signed 'exclusivity contracts' for lower commissions, while Swiggy promised business growth to restaurants listing exclusively on its platform

Swiggy IPO receives 35% subscription on second day of share offering

The company is aiming to garner Rs 11,327 crore from the IPO, which has a fresh issue of shares worth Rs 4,499 crore, along with an offer for sale (OFS) of Rs 6,828 crore

Swiggy confident of growth, emphasises strength in consumer insight

Swiggy remained optimistic of growth in quick commerce amid growing competition from deep pocket players and said it has grown amid intense competition over the past decade, an official said on Thursday. In an interview to PTI, CEO Food of Swiggy, Rohit Kapoor, acknowledged the possibility of the entry of Jio into the hyperlocal delivery market as a competitor, but underscored that building a successful business in this sector requires more than just capital. Speaking on the competitive dynamics, Kapoor said that while funding is important, it is not the sole determinant of long-term success, referencing examples of well-capitalised players in India who failed to establish a lasting presence. "Just having a lot of capital has not resulted in great businesses in India," the official said, adding that success hinges on several other elements," he said. "You need a strong ability to hire top technical talent, and that's something traditional companies often struggle with. Beyond talen

Swiggy IPO subscribed 12% on day one; individual investors bid most

Swiggy has already allotted shares worth Rs 5,085 crore to anchor investors, drawn from the QIB quota

Swiggy IPO makes lackluster start: subscription at 7% so far, GMP 3%

NSE data revealed that the IPO had garnered bids for merely 1,10,51,578 shares out of 16,01,09,703 on offer, translating to a subscription rate of just 0.07 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

Food delivery major Swiggy raises Rs 5,085 crore from anchor investors

Anchor allotments are made to marquee investors a day before the IPO to instil confidence and provide cues to other investors

Swiggy IPO opens on November 6: Here's how GMP is faring ahead of opening

Softbank-backed Swiggy IPO will be open for public subscription from Wednesday, November 6, to Friday, November 8, 2024. Bidding for anchor investors is expected to take place on Tuesday, November 5

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 fined Rs 35,000 for 'going the extra mile' in delivery charges

A Telangana court has ordered food delivery platform Swiggy to issue a refund and compensation, and to stop such practices

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

Swiggy early investors to pocket gains ranging between 3x and 35x

Norwest Venture, which invested in Swiggy's Series B round in 2015, will make gains of up to 26 times, with an acquisition cost of Rs 14.82 per share

Swiggy unfazed by urban demand slump, launches Rs 11,330 cr share sale

Food delivery app Swiggy on Wednesday launched a Rs 11,330-crore initial share sale, asking investors to take a pie of Indian middle class' rising propensity of online ordering. The company, which is present in over 650 cities and towns of the country, is launching the initial public offering (IPO) amid heightened concerns on urban demand slump, and the management stressed that it is unaffected by the broader trends in the economy. "We are also reading about it, but we are not seeing that yet in the business... So far, we have not seen the impact of demand on our business," its chief financial officer Rahul Bothra said. The issue comes amid a series of IPOs in the recent past including South Korean car maker Hyundai's mega Rs 28,000-crore issue. It will make Swiggy the second major food delivery app after Zomato to go public. Bothra said it is possible that the company which claims to have 14 million users serves only a small part of the consumer base, unlike fast moving consumer .

Quick commerce boom: Industry giants race to claim their slice of the pie

India's quick commerce sector has seen an astonishing growth rate, with sales increasing by more than 280 per cent over the past two years

India's biggest IPOs of 2024: Swiggy, Ola, Hyundai Motor India, more

About 270 companies have raised over $12.57 billion through IPOs in India so far this year, well above the $7.4 billion raised in all of 2023, LSEG data shows

Swiggy IPO ups primary fundraise to Rs 4,499 cr, cuts secondary share sale

Food and grocery delivery company expected to announce its IPO price band on Wednesday

Swiggy raises primary issuance to Rs 4,499 cr, cuts OFS to 175.1 mn shares

Swiggy adjusts valuation, targets Rs 11,300 cr IPO with Nov launch, amid market volatility

BigBasket, Blinkit, Swiggy deliver gold, silver in 10 min this Dhanteras

Dhanteras 2024: Quick commerce platforms are offering 10-min delivery of gold from major jewellers including Tanishq and Malabar amid the festive rush