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.
As many as 26 top e-commerce companies, including Zepto, BigBasket and Zomato, have given an undertaking that their platforms are free from misleading claims and unfair trade practices which constitute 'dark patterns', the government said on Thursday.
Let her know that you are in a happy marriage and you are not comfortable with her behaviour, advises rediffGURU Ravi Mittal.
Food delivery major Swiggy has received approval from its shareholders for a $1.25 billion initial public offering (IPO), according to filings made with the Registrar of Companies sourced by Tofler. The Bengaluru-based firm plans to raise as much as Rs 3,750 crore (around $450 million) via a fresh issue and up to Rs 6,664 crore (around $800 million) through an offer-for-sale (OFS) component, the filings stated.
India's gifting market is seeing its biggest festive season yet, with sales through quick commerce platforms like Zepto, Blinkit and Instamart jumping 40%-50% year-on-year.
Something is cooking in online food delivery. After 15 years of grappling with the demands of the business - read cash burn - Gurugram-based Zomato reported its first profit in the first quarter of 2023-24 (FY24). Not satiated, it reported a profit in the following quarter as well: Of Rs 36 crore in the second quarter compared to Rs 2 crore in the first. A year ago, in the second quarter of FY23, it had reported a loss of Rs 251 crore.
The Securities and Exchange Board of India (Sebi) has given green light to several mega initial public offerings (IPOs) last week, paving the way for bumper launches during the ongoing festival season. According to the update on Sebi's website, Hyundai Motor India, which will be the country's largest IPO of nearly Rs 25,000 crore, received the observation letter from the market regulator on September 24. The regulator also gave the final observations on the offer documents of Vishal Mega Mart and Swiggy.
Zomato was not just recovering, it was rebuilding and reinventing, showing signs of maturing as a business. Chaos had been turned into momentum. A fascinating excerpt from Megha Vishwanath's book, UNSEEN: The Untold Story of Deepinder Goyal And The Making Of Zomato.
Layoffs, corporate restructuring, governance and most importantly profitability: The 14 Indian startups that plan IPOs this year are pulling out all the stops to ensure successful market debuts.
On-demand convenience platform Swiggy's food delivery business has turned profitable, making it one of the very few global players in the sector to achieve such a feat in less than nine years since inception, company CEO and co-founder Sriharsha Majety said on Thursday. Bullish on India's journey of eating out and food delivery, Majety, in a blogpost, said, Swiggy is "very sanguine about the growth potential over the next two decades" and would continue to drive further growth in food delivery. "Our sharp focus on innovation, coupled with strong execution has led to yet another milestone.
TasteAtlas has unveiled its global line-up of top chicken dishes. It's no surprise that Butter Chicken is No 5.
World Adult Day is a reminder that adulthood isn't a milestone you hit at 18 or 21, it's the everyday reality of managing life on your own, taking responsibility, making decisions and figuring things out without a parental safety net. Today, 27-year-old Krushant opens up about how living alone has taught him what 'grown-up' life is really like.
Soon after the ad was put up, several people tweeted with the hashtag "HinduphobicSwiggy", urging people to boycott the food and grocery delivery service provider.
From appointment letters becoming mandatory to gig workers receiving social security to enhanced rights for women and contract labour, the changes reflect India's attempt to balance ease of doing business with stronger worker welfare.
Food ordering and delivery platform Swiggy on Wednesday said it has introduced an industry-first 'Moonlighting policy', wherein employees can take up external projects for pro-bono or economic consideration based on internal approvals. "This could encompass activity outside of office hours or on weekends that does not impact their productivity on the full-time job or have a conflict of interest with Swiggy's business in any way," a company release said. Moonlighting policy allows employees to work second jobs, outside normal business hours of the primary job, under certain conditions.
As the quick commerce (qcom) race hots up, a new model - vertical qcom - is gaining investor attention. Unlike horizontal players such as Blinkit, Zepto, and Swiggy Instamart, which stock everything from groceries to gifts and gadgets, vertical platforms focus on depth over breadth.
Digital payments provider PhonePe has filed draft papers with markets regulator Sebi for its upcoming initial public offering (IPO) using the confidential pre-filing route. On Wednesday, the company's spokesperson said, "PhonePe Ltd has filed the Pre-filed Draft Red Herring Prospectus with Sebi and the stock exchanges, under...the Sebi ICDR Regulations in relation to the proposed initial public offering of its equity shares on the main board of the stock exchanges".
New-age stocks to buy: Most new-age stocks have turned out to be wealth destroyers in stock markets, so far, in calendar year 2025. Shares of Ola Electric Mobility, for instance, have plunged nearly 50 per cent in the first half of CY 2025, while those of Swiggy, PB Fintech, Paytm, and Eternal (Zomato) have crashed between 6 per cent and 25 per cent, ACE Equity data shows.
Swiggy is planning to file its draft red herring prospectus with the Securities and Exchange Board of India for its initial public offering (IPO) in the next two weeks, aiming for an $11 billion IPO valuation target. The Bengaluru-based firm plans to raise an estimated $1 billion (Rs 8,300 crore) through the IPO this year. The company is targeting a valuation in the range of $10-11 billion, and it currently has approximately $800 million in cash from the previous funding round, according to sources.
BSE 200 companies together paid 5,819.75 crore as remuneration to their CEOs and directors in FY25, up from 5,352.8 crore a year earlier.
'...then preparing oneself for the long haul is also essential.' 'Identifying and holding onto values gives you strength to withstand the difficulties enroute.' 'Taking care of your physical, mental, and intellectual well-being gives you the strength to stay the path.'
Japanese investment giant SoftBank is looking to partially exit from three startups which are aiming at an IPO next year - Ola Electric, Swiggy and First Cry. But its decision will depend on the size of the offer for sale pool in each of the companies. According to sources aware of the strategy, Softbank invested over $850 million collectively in these companies whose value conservatively would go up more than 4.3 times to around $3.7 billion, based on preliminary estimates of their projected valuation when they go public next year.
SoftBank founder Masayoshi Son on Tuesday said its portfolio company Swiggy is expected to deliver "good returns" if the food delivery platform were to go public. Speaking at a post-earnings presentation for SoftBank, Son said one of Swiggy's rivals has recently gone public and its share price is doing great. Last month, Zomato made a stellar debut on Dalal Street with its shares zooming nearly 53 per cent against the issue price of Rs 76, and its market valuation crossing the Rs 1-lakh-crore mark.
The National Restaurant Association of India has written an advisory to its members against Zomato Pay and Swiggy Diner discount programmes saying these are against the interest of restaurant owners. The advisory alleges that 'middlemen' Zomato and Swiggy are making money at the cost of restaurants, who sign up to be on the Zomato Pay and Swiggy Diner programmes by making them compulsorily offer discounts and also pay commission fee on every transaction on these platforms. "Zomato Pay and Swiggy Diner both operate broadly on the same construct -- no cost/subscription fee to the customer to participate; restaurants must compulsorily offer a discount in the range of 15-40 per cent to be part of the program," NRAI wrote to its members.
With razor-sharp focus on deliveries and customer experience, powered by strong in-house technology built ground-up, Swiggy is emerging as the food ordering platform of choice.
The company also shared that a single user from Hyderabad spent a whopping Rs 6 lakh on Idlis in the last 12 months. The analysis by Swiggy covers the period from March 30, 2022, to March 25, 2023, and provides interesting insights into the popularity of this South Indian delicacy.
GST Reform 2.0, which trims tax slabs from four to two, signals a push for demand-led growth, and together with recent income tax cuts, sets the stage for sustained economic growth, experts said. The Goods and Services Tax (GST) Council on September 3 approved an overhaul of the indirect tax regime by taxing essentials at 5 per cent and other goods at 18 per cent. A new 40 per cent tax will be applicable on luxury and sin items.
Festive sales are expected to surge 27 per cent to cross Rs 120,000 crore in 2025, driving Amazon and Flipkart to expand warehousing capacity by millions of cubic feet and extend delivery networks to thousands of new pin codes -- an infrastructure buildout that could reshape India's retail landscape for years.
The latest round of funding values the company at $10.7 billion, almost doubling it from the $5.5 billion valuation during the $1.25 billion fund raise in July 2021 when investors including SoftBank, Prosus and Accel pumped in capital in what was the company's biggest funding since its inception. The other new investors in the latest round of funding include Baron Capital Group, Sumeru Venture, IIFL AMC Late Stage Tech Fund, Kotak, Axis Growth Avenues AIF- I, Sixteenth Street Capital, Ghisallo, Smile Group and Segantii Capital, Swiggy said in a statement.
"It went up to 20-odd per cent in 2019 and to 25 per cent a year later. "That's when we decided to pull the plug; it was not sustainable for our business," says Chadha. Madison & Pike, instead, turned to Mumbai-based start-up Thrive, which provides third-party delivery services to restaurants at a much lower commission - three to five per cent.
Online food delivery platform Swiggy on Friday laid off 380 employees as part of a "restructuring exercise" citing challenging macroeconomic conditions, with its CEO Sriharsha Majety saying that overhiring was a case of "poor judgement" where he should have done better. In an internal email, Majety, co-founder and CEO, also apologised to the affected employees and said the "extremely difficult decision" taken after "exploring all available options" and offered an employee assistance plan for the impacted people. He said the growth rate for food delivery has slowed down versus the company's projections.
'They don't tell us what they take from customers. They don't tell customers what they give us.'
'We saw 581 chocolate orders per minute and 324 rose orders per minute.'
Dark pods are physical stores or warehouses which will be accessible only to Swiggy staff and which will host groceries, pharmacies, and cloud kitchens.
Some of the key names include: Maruti, M&M, Ashok Leyland, Britannia, Ultratech, JK Cement, Havells, Voltas, Amber, Metro, Trent, LemonTree, Indian Hotels, Niva Bupa, HDFC Life, IGL, Acme Solar, Suzlon, Swiggy, Delhivery, ICICI Bank, HDFC Bank, Bajaj Finance, Shriram Finance," according to a report by Motilal Oswal Financial Services.
The funding marks the first investment in the Indian food delivery category by SoftBank Vision Fund 2, with participation from the company's long-term investor, Prosus, and other existing investors Accel Partners and Wellington Management, Swiggy said in a statement. In addition, new investors Qatar Investment Authority, Falcon Edge Capital, Amansa Capital, Goldman Sachs, Think Investments and Carmignac participated in the round, it stated. This latest fundraise was heavily oversubscribed following strong interest from investors, and comes on the back of Swiggy's rapid recovery from the impacts of COVID-19 and subsequent growth in 2020-21, Swiggy said.
Sometimes the most relatable reaction face can land you brand deals with Swiggy and Yes Madam faster than a Dhoni six.
Food delivery apps Zomato and Swiggy reported a nationwide outage on Wednesday. Both the platforms witnessed technical glitches and were unresponsive for almost an hour. Downdetector, a platform that collects status reports from a series of sources, recorded about 3,619 reports of outage against Zomato at 2:05 PM and about 771 reports of outage against Swiggy at around 2:21 PM. According to the sources, the outage was caused by Amazon Web Services (AWS), a cloud-services platform, which runs both platforms. Though Swiggy and Zomato are working now, some customers reported that the issue has not been solved completely and they are not able to place orders and there are payment related issues.
So Swiggy offered 35,056 varieties of biryani to its users, says Peerzada Abrar.
Competition Commission on Monday ordered a detailed probe against food delivery platforms, Zomato and Swiggy, for alleged unfair business practices with respect to their dealings with restaurant partners. The order has come on a complaint filed by the National Restaurant Association of India (NRAI). The watchdog's probe arm -- Director General (DG) -- will investigate the case.
