Food delivery and quick-commerce major Swiggy, which is coming out with its initial public offering (IPO) on Wednesday, is seeking a valuation of about $11.3 billion. The Bengaluru-based company is aiming to garner Rs 11,327 crore from the IPO, which will comprise a fresh issue of shares worth Rs 4,499 crore along with an offer for sale (OFS) of Rs 6,828 crore. Swiggy has set a price band of Rs 371 to Rs 390 per share for its maiden public issue.
Food delivery app Swiggy on Wednesday launched a Rs 11,330-crore initial share sale, asking investors to take a pie of Indian middle class' rising propensity of online ordering. The company, which is present in over 650 cities and towns of the country, is launching the initial public offering (IPO) amid heightened concerns on urban demand slump, and the management stressed that it is unaffected by the broader trends in the economy. "We are also reading about it, but we are not seeing that yet in the business... So far, we have not seen the impact of demand on our business," its chief financial officer Rahul Bothra said.
On-demand convenience platform Swiggy on Monday said it has announced its fifth ESOP liquidity programme giving options to employees across levels and functions to receive liquidity of up to $65 million (over Rs 540 crore). Tis is the fifth liquidity event for Swiggy since 2018, and the third consecutive event after July 2022 and 2023, the company said in a statement.
On the cusp of launching its Rs 11,327 crore initial public offering (IPO) next week, food and grocery delivery major Swiggy believes quick commerce to be its future growth engine and anticipates that it will outpace its core food delivery business over the next five years. Currently, the quick commerce business of Swiggy - backed by Prosus and SoftBank - is 40 per cent of the size of its food delivery revenues.
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.
Through its cloud kitchens, ITC is building a portfolio of shorter shelf-life offerings and selling them through quick commerce platforms.
Highlighting India as the company's most important growth market, Fabricio Bloisi, group chief executive officer (CEO) of the Dutch technology investor Prosus signaled a sharp acceleration in artificial-intelligence investments across its portfolio in the country.
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.
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A government Ayurveda doctor in Gurugram has been arrested for allegedly running over a delivery worker multiple times with his SUV following a dispute over parking.
Prosus, the Amsterdam-based technology investor with net assets valued at over $200 billion spanning payments to e-commerce, has identified India as one of its most critical growth markets, and is increasing its strategic investments here.
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.
Ecommerce (ecom) and quick commerce (qcom) platforms are expected to lead gig worker hiring in calendar year 2026 (CY26), adding nearly 1 million workers on the back of sustained demand for last-mile deliveries, higher order volumes, and continued expansion of dark stores into non-metropolitan cities, industry experts have said.
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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.
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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.
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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.
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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.
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.
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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.
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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.
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.
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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.
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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.
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.
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.
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.
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.
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.
