Page 20 - Swiggy

Parent company Zomato set to infuse fresh capital of Rs 300 cr in Blinkit

With this latest investment, Zomato has invested a total of Rs 2,300 crore in Blinkit since acquiring the company in August 2022

Indians get hooked on 10-minute grocery apps, squeezing small retailers

Swiggy warehouses are mushrooming across India to deliver everything from milk and bananas to condoms and roses within minutes - a business model that is reshaping how Indians shop

IPO-bound firms seek advice amid market fluctuation after Lok Sabha results

Lok Sabha elections 2024 results: IPO-bound companies are consulting experts for guidance amid the fluctuations in the stock market

Baron Capital boosts food delivery firm Swiggy valuation to $15.1 billion

The food delivery firm's investors have been consecutively marking up the company's valuation over the last year as it gears up for an IPO this year

Selling like hot cakes: Online sales blaze as consumers click to stay cool

One of the main players in the quick commerce space- Swiggy Instamart, has witnessed a sharp rise in sales of juices, cold drinks, and ice creams

Reliance to challenge Blinkit, Swiggy, Zepto with quick commerce entry

Reliance's JioMart may begin offering deliveries within the next month, completing deliveries within 30 minutes

Flipkart to Swiggy: Valuations of top startups on path to recovery in 2024

After inflated valuations in 2022 and subsequent markdowns, the companies are on the path to recovery to keep their valuations realistic as they aim for profitability

Swiggy HDFC Bank credit card revises cashback plan: All you need to know

Instead of cashback appearing as Swiggy Money on the Swiggy app, it will now be reflected directly on your credit card statement

E-commerce demand surges amid heatwave, manpower needs increase

In the past month alone, daily deliveries by e-commerce entities have escalated to over two million, compared to 1.2-1.5 million deliveries recorded a year earlier

Bengaluru water crisis: Swiggy Instamart to deliver aerators in 10 minutes

Swiggy Instamart saw an 1400% increase in the searches for aerators on its platform since BWSSB's mandate for the installation of aerators in commercial establishments

Swiggy Instamart, Blinkit, Zepto to deliver gold & silver coins in 10 mins

Akshaya Tritiya holds significant importance in Hindu culture, symbolising prosperity and abundance. The day is also considered auspicious for the purchase of gold and silver

Delhi HC asks Swiggy, Zomato to delist 13 eateries using Domino's trademark

Domino's initiated a lawsuit for trademark infringement against 13 restaurants operating names such as 'Dominic Pizza', 'and Dominek's Pizza', among others

Why the failed delivery of Rs 187 ice cream, cost Swiggy more than Rs 5,000

The customer sought Rs 10,000 as compensation and an additional Rs 7,500 in litigation expenses from Swiggy for its failure to deliver the ice cream and subsequent refusal of a refund

Swiggy secures shareholders' approval to raise over Rs 10,400 cr via IPO

Food and grocery delivery major Swiggy has received shareholders' approval for an initial public offering to raise Rs 10,414 crore fund through issue of fresh equity shares and an offer for sale, according to sources. A special resolution was passed at an extraordinary general meeting of Swiggy on April 23, they said. According to sources, the Bengaluru-based company plans to raise up to Rs 3,750 crore funds through fresh equity shares, in addition to an offer-for-sale component of up to Rs 6,664 crore. The company is looking to shore up about Rs 750 crore from anchor investors in a pre-IPO round, they added. Swiggy, founded in 2014, has a valuation of USD 12.7 billion as on April 10, 2024. Its annual revenue stood at USD 1.09 billion as on March 31, 2023. The company has more than 4,700 employees, according to Tracxn, a global startup data platform.

Swiggy gets shareholder approval for potential $1.2 billion IPO this year

Bengaluru-based Swiggy intends to raise up to Rs 3,750 crore ($450 million) in fresh capital alongside an offer-for-sale (OFS) segment of up to Rs 6,664 crore ($800 million)

Ordering food from Zomato to get costlier as the company hikes platform fee

Zomato processes somewhere between 2-2.2 million orders daily, suggesting that a Rs 1 increase, from Rs 4 to now Rs 5, could boost the company's quarterly earnings

Food delivery firm Zomato gets Rs 11.82 crore GST related tax demand notice

Online food delivery platform Zomato has received a tax demand and penalty order of Rs 11.82 crore related to GST on export services provided to its subsidiaries located outside India from July 2017 to March 2021. The order was passed by the Additional Commissioner, Central Goods and Services Tax, Gurugram, raising the GST demand of Rs 5,90,94,889, with applicable interest (not quantified) and penalty of Rs 5,90,94,889. "We believe that we have a strong case on merits, and the company will be filing an appeal against the order before the appropriate authority," Zomato stated in a regulatory filing late evening on Friday. It informed that the demand order has been received, "confirming demand of GST on export services provided by the company to its subsidiaries located outside India during the period July 2017 to March 2021 by upholding that such services do not fulfil the conditions for the supply to qualify as export of service under GST". "The company, in its response to the show

Swiggy to integrate Instamart with Mall to broaden choice for consumers

Food tech giant Swiggy on Thursday said it will integrate Swiggy Mall with its quick commerce offering Instamart, to broaden the choice for consumers looking to purchase products other than groceries and staples. Swiggy Mall, which is currently operational in parts of Bengaluru, marked the company's foray into online retail. The company said Swiggy Instamart is already present in more than 25 cities allowing Swiggy Mall to scale up over the coming months, starting with Bengaluru. "Swiggy Instamart is broadening its offerings to include an even wider array of products. With our latest update, customers can now explore an extensive selection across over 35 categories, that go way beyond groceries and home essentials, delivered in minutes. "This marks a significant milestone in our journey towards providing unparalleled convenience, ensuring our users have everything they need at their fingertips, faster than ever before," said Phani Kishan, Head of Swiggy Instamart. In a blog post,

Zomato's improved profits, 260% stock surge leaves analysts scrambling

The nearly 260% surge in Zomato since last April has made it difficult for consensus to keep up, but expectations continue to rise

Swiggy launches 'Swiggy Pawlice' initiative for finding missing pets

The on-demand convenience platform's Swiggy Pawlice feature empowers pet parents to report a missing pet directly on the Swiggy app