 "Swiggy's Sriharsha Majety recounts journey in rare appearance at IPO debut")
In a rare public appearance, Swiggy CEO Sriharsha Majety attended the company’s highly anticipated market debut at the National Stock Exchange (NSE) in Mumbai. Known for his low-key approach, Majety joined Swiggy’s leadership team to celebrate the milestone, setting a notable contrast with Zomato’s outspoken CEO, Deepinder Goyal. While Goyal frequently seeks the spotlight, Majety has preferred to stay behind the scenes, quietly guiding Swiggy’s rise to success.
Swiggy IPO: A vision from campus to market
At the NSE ceremony, Majety reflected on Swiggy’s beginnings, recalling how the idea first came to him during his time at the Indian Institute of Management (IIM) Calcutta. “I completely forgot about it after that college project finished. And then, in a very different way, again came across it, without knowing it [consciously],” he was quoted as saying by The Economic Times.
Reflecting on the startup’s incredible growth, he said, “For that idea to have first gotten executed is in itself a rarity. But to execute it at the size and scale that we have right now is an absolute miracle.”
Majety expressed gratitude to Swiggy’s leadership team for their commitment and efforts, contributing to Swiggy’s current stature.
Swiggy takes on Zomato and Zepto
Swiggy’s market debut has intensified competition in India’s fast-growing doorstep delivery sector, where it directly competes with Zomato and Zepto. Both Swiggy and Zomato are front-runners in food delivery and quick commerce, yet their leadership approaches remain strikingly different. Zomato’s Deepinder Goyal is a social media stalwart, frequently engaging followers through Instagram, X (formerly Twitter), and podcasts. In contrast, Majety is known for being reclusive, with his last post on X dating back to May 2023.
Swiggy IPO creates 5,000 new crorepatis
Beyond its market debut, Swiggy’s initial public offering is also a landmark event for its workforce, with over 5,000 employees set to receive substantial financial gains through stock payouts. This Rs 9,000 crore employee stock option (Esops) payout stands as one of the largest in India’s startup ecosystem.