The acquisition will expand Swiggy's existing network of 40,000 restaurants.
Food and grocery delivery major Swiggy on Thursday filed its updated draft papers with capital markets regulator Sebi to raise funds through its much anticipated initial public offering (IPO). The proposed IPO comprises a fresh issue of equity shares worth Rs 3,750 crore and an offer-for-sale (OFS) of 18.52 crore equity shares by existing shareholders, according to the updated draft red herring prospectus (UDRHP). Market sources have pegged the company's IPO size at over Rs 10,000 crore.
For food aggregator platform Swiggy, quick commerce (qcom) is proving to be a better growth opportunity than food delivery. Its qcom arm Instamart is rapidly outpacing its core food delivery vertical across several key financial metrics, the company's recently filed draft red herring prospectus (DRHP) shows.
The company has entered into a strategic partnership with Scootsy, a hyper-local delivery platform
Top chefs are sharing comfort food recipes to turn their followers into cooks.
'We have to accept that the infection is now in the community and we can't isolate everyone who gets it.' 'Instead, what we need to do is to find out those who are most at risk of death, isolate them and save them from the rest.'
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