Page 16 - Swiggy

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 Sriharsha Majety recounts journey in rare appearance at IPO debut

Swiggy's CEO, at the stock market debut, shared the journey from an IIM Calcutta college project to India's leading delivery platform

Swiggy enters Rs 1 trn market-cap club on debut; up 15% over issue price

At 11:15 am on Wednesday; Swiggy's market cap stood at Rs 100,148 crore (Rs 1.0 trillion), the NSE data shows.

Swiggy shares make positive debut on bourses; list at 8% premium on NSE

On the National Stock Exchange (NSE), Swiggy shares opened at Rs 420, higher by Rs 30, or 7.6 percent, from its IPO allotment price

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

Market Today: CPI at 14-mth high; FIIs; Swiggy & ACME Solar IPO listing

Both Sensex and Nifty closed over 1 per cent lower on Tuesday, November 12, with the Sensex ending at 78,675.18 and the Nifty closing at 23,883.45 levels

Food delivery major Swiggy to debut on stock market on Wednesday

If the grey market premium is any indication, Swiggy's shares could list close to its issue price of Rs 390 per share, valuing the company at Rs 87,300 crore

Swiggy IPO listing prediction: Analysts raise caution ahead of market debut

Following the completion of its initial public offering (IPO), Swiggy shares are slated to make their debut on the bourses on Friday, November 8, 2024

Swiggy IPO allotment today: Check status, GMP, & expected listing price

Once the allotment is finalised, investors can check the status of their Swiggy IPO shares on the official websites of BSE, NSE, or Link Intime India, the registrar for the issue

Swiggy recruits senior leadership from Flipkart, Amazon amid expansion bid

Swiggy is set to debut on the Indian stock exchanges on Wednesday, marking a milestone in the next phase of the company. The company launched its high-profile initial public offering last week

Swiggy expands leadership team with 2 senior appointments to enhance ops

Both appointments are part of Swiggy's continued focus on scaling its operations, enhancing service delivery, and supporting its growth in both food delivery and quick commerce

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

Zomato, Swiggy deny CCI antitrust violations, say media report 'misleading'

Deepinder Goyal-led Zomato clarified to the BSE that although the CCI initiated a preliminary investigation in April 2022, no findings or orders have been issued against the food delivery platform

CCI probe finds Zomato, Swiggy breached antitrust regulations: Report

The CCI documents are not public, in line with its confidentiality rules, and were shared with Swiggy, Zomato and the complainant restaurant groups in March 2024

Swiggy IPO: QIBs do final-day heavylifting, isssue subscribed 3.6x

Institutional investors swoop in on Day 3 to corner 90% bids

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

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