Page 6 - Zomato

Shiprocket plans to raise ₹2K cr-2.5K crore via confidential IPO route

Logistics unicorn Shiprocket is preparing a ₹2,000-2,500 crore IPO comprising fresh issue and OFS, with proceeds likely to go into tech, warehousing, and expansion

Zomato's parent firm inks 5-yr office lease deal in Andheri for Rs 95 cr

The lease agreement spans five years, featuring a fixed monthly rent of Rs 160 per sq ft for the first three years, followed by a 15 per cent escalation thereafter

Delhi govt to set up welfare board for gig workers, frame schemes

Delhi labour minister Kapil Mishra on Friday said the government will constitute a welfare board for gig and platform workers and frame schemes for their welfare. Mishra chaired a meeting with gig workers and representatives from major platforms and aggregators, including Swiggy, Zomato, Blinkit, Uber, UrbanClap, and BigBasket, said an official statement. The session provided a platform for gig workers to voice their concerns directly to the government and aggregators. They highlighted pressing issues such as long working hours, inadequate payments, and the absence of an effective grievance redressal system, which have long impacted their livelihoods, it said. "All these problems will be addressed with the cooperation of platforms and aggregators. The government will constitute a welfare board for gig and platform workers and will frame schemes for their welfare," he said. He also assured the platforms and aggregators that they will not face harassment from inspectors or any other

Zomato, Swiggy now levy rain surcharge on Gold, One premium users

Zomato and Swiggy will now apply rain surcharge on premium members ending earlier waivers as both platforms intensify efforts to boost profitability and cut losses

Eternal leases over 84,000 sq ft office space in Mumbai's Andheri

The lease spans five years with a rent escalation clause, includes 57 parking spots, and was registered on 9 May with a fit-out period of 150 days starting 1 May 2025

InfoEdge earns 36% gross IRR on startup investments since 2007

InfoEdge's startup portfolio has yielded a 36 per cent gross IRR since 2007, led by Zomato and Policybazaar; total FMV of investments has reached Rs 36,855.4 crore

Swiggy Bolt expands to 500 cities as Zomato shuts down 'Quick' service

Swiggy Bolt now handles one in every ten food orders on the platform, marking rapid expansion even as rival Zomato discontinues its instant delivery service 'Quick'

Eternal shares bounce 9% from day's low post Q4 show; is the worst over?

Eternal share price: Shares of Eternal recouped morning losses after most analysts maintained their 'Buy' rating on the stock

Swiggy expands 10-minute food delivery service 'Bolt' to over 500 cities

Swiggy on Friday said its 10-minute food delivery service 'Bolt', which was launched in October last year, is now operational in more than 500 cities across the country. Presently, at least one in every 10 food delivery orders delivered by Swiggy are delivered using the 'Bolt' service. The offering is now available in over 500 cities across India. Swiggy's scaling up of 'Bolt' comes at a time when its rival Eternal, formerly Zomato, has announced shutting down of the 'Zomato Quick' offering, stating it is not seeing the path to profitability without compromising on customer experience, observing that the current restaurant density and kitchen infrastructure is not set up for delivering orders in 10 minutes, leading to inconsistent customer experience. Swiggy Food Marketplace CEO Rohit Kapoor said, "Bolt fits into the way people live today. You're hungry, you want something now, and you don't want to compromise. We built Bolt for that moment. Seeing it scale to 500-plus cities in ju

NRAI dials Rapido to challenge dominance of Swiggy, Zomato in food delivery

Initially launched as a ride-hailing platform, Rapido is eyeing to enter food delivery to challenge the dominance of Swiggy and Zomato

Stocks to Watch, May 02: Eternal, Adani Ports, NCC, JSW Infra, auto stocks

Stocks to Watch on Friday: Adani Enterprises, Eternal, NCC, Auto stocks, GR Infraprojects, Adani Ports, Indus Towers, and Federal Bank are among the stocks to watch today, May 02, 2025

Zomato's parent Eternal Q4 net profit falls 78% to ₹39 cr, revenue up 64%

The company's revenue for the quarter rose 63.7 per cent year-on-year (Y-o-Y) to ₹5,833 crore in Q4, up from ₹3,562 crore a year earlier

ONDC & NRAI working together to shape a robust framework for food business

Several restaurant members had told Business Standard that there could be a tie-up with Rapido

Zomato's parent Eternal Q4 net profit tanks 77% to ₹39 cr, revenue up 63%

The food delivery major Eternal, previously known as Zomato, reported revenue from operations as Rs 5,833 crore

Q4 results today: Adani Ports, Zomato, and Adani Enterprises on May 1

Q4 FY25 company results today: Eternal (formerly Zomato), RailTel Corporation, and 5paisa Capital will be among 15 companies to post earnings reports for the January-March quarter on May 1

Zomato CEO Deepinder Goyal refutes Reddit post on losing market share

Zomato Founder and CEO Deepinder Goyal has rejected an anonymous Reddit post alleging that things were "going off the rails" with the company, rebranded as Eternal, losing market share to Zepto Cafe and Swiggy and forcing employees to order from its food delivery platform. The post also claimed that the work culture has become "laughably inconsistent" with "toxicity" baked in, and the only thing keeping the company profitable now is platform fees, and the "crisis" compounded by "underpaid and overworked" delivery partners. In a post on X on Saturday, Goyal said, "All of this - reddit.com/r/StartUpIndia' - is utter nonsense. Neither are we losing market share, nor will we ever force our employees to order on Zomato. Freedom of choice is something we stand for vehemently." He further said "it is embarrassing to even clarify this -- but doing it since many people reached out to me with concern. And thanks everybody for your concern.. appreciate it". The Reddit post had alleged that "i

Zomato food delivery CEO Ranjan still part of leadership team: Eternal

Eternal, formerly Zomato, on Thursday clarified that its food delivery CEO Rakesh Ranjan has not resigned and that any reshuffling of the leadership team at the company is a standard practice as part of its efforts to optimize organizational effectiveness. The clarification through a regulatory filing came in response to a media report on the stepping down of Ranjan. "We would like to clarify as on date, there has been no resignation tendered by Rakesh Ranjan and he still continues to be part of the leadership team. At Eternal Group, internal reshuffling of the leadership team is considered a standard practice as part of the company's ongoing efforts to optimize organizational effectiveness," Eternal said. Earlier this month, the food and grocery delivery platform officially changed its name to 'Eternal Ltd' on the stock exchanges following approval from Ministry of Corporate Affairs. The brand name of the company's food delivery business, Zomato remains the same, along with the ap

Zomato denies report of food delivery CEO Rakesh Ranjan stepping down

Earlier reports claimed that Ranjan was stepping down as part of an internal reshuffle, with Zomato co-founder Deepinder Goyal expected to take interim charge

Delhi High Court seeks response from CCI and Zomato on NRAI plea

Plea challenges its exclusion from the confidentiality ring giving access to CCI probe documents

Swiggy launches AI-powered Pyng app, enters professional services market

At the core of this experience is Pyng's Smart AI Assistance. It understands user queries and their nuances to recommend the most relevant professionals as per individual needs