Page 7 - Swiggy

Softbank-backed Swiggy files for IPO; aims to raise about Rs 3,750 crore

Swiggy's long-awaited public listing comes amid a booming IPO market, with 198 companies having raised $7.1 billion in the year to Sept.4, more than double the amount for the same period last year

IPO fundraise thus far in 2024 third highest in primary market history

IPO pipeline for the remaining part of CY24 remains strong. 25 companies plan to raise nearly Rs 63,550 crore and have Sebi's approval

Rahul Dravid, Zaheer Khan, Karan Johar invest in Swiggy ahead of IPO launch

Swiggy previously secured investments from Bollywood stars like Madhuri Dixit and Amitabh Bachchan, along with entrepreneur Ritesh Malik, during its pre-IPO funding rounds

Swiggy's IPO plan gets green light from Sebi; launch likely in November

Before Swiggy launches its IPO, it will have to place its updated draft red herring prospectus (UDRHP) in the public domain for at least 21 days

Ecommerce festive sales to reach $12 billion, quick commerce gains ground

Quick commerce, the burgeoning segment that promises rapid deliveries, is set to contribute $1 billion in gross merchandise value (GMV) to the festive sales

Swiggy launches Project Next to offer career growth for delivery partners

By transitioning qualified delivery partners into the role of sales executives, Project Next aims to enhance restaurant expansion across over 150 growing markets

Zomato bans AI-generated images from food menus to preserve authenticity

Effective from Monday (September 16), restaurants that fail to comply with the new rule against AI images will be removed from Zomato

Cost of convenience: Restaurants list higher prices in online menus

Consumers are generally paying more while ordering food from online platforms and apps compared to eating at the same restaurant from which they order online

Swiggy eyes IPO filing this week; may seek to raise over $1 billion

Details of the offering such as size and timing are still under discussion and subject to change, they said

Swiggy plans to raise Rs 5,000 crore via fresh issue in upcoming IPO

The Bengaluru-based company had already targeted Rs 6,664 crore through an offer for sale (OFS)

Swiggy's IPO plan includes Rs 5,000 cr fresh issue, exceeding initial aim

The planned amount exceeds the initial Rs 3,750 crore the company had aimed to raise, in addition to a Rs 6,664 crore offer for sale

MSDE, Swiggy tie up to provide skilling, employment opportunities

The Ministry of Skill Development and Entrepreneurship and Swiggy on Saturday launched an initiative to provide skilling and employment opportunities within Swiggy's food delivery and the quick commerce network. The partnership will benefit 2.4 lakh delivery partners and staff of restaurant partners associated with Swiggy. The initiative will provide employment, internship and training opportunities for people in restaurant operations, and various aspects of retail management. Under the Swiggy Skills initiative, its delivery partner platform will be integrated with Skill India Digital Hub (SIDH), providing access to online skill development courses, certifications, and training modules to Swiggy's workforce. Jayant Chaudhary, Union Minister of State (Independent Charge) for Skill Development and Entrepreneurship (MSDE), said, "Today's partnership showcases how public private partnerships can accelerate and create new avenues for the workforce in the (logistics) sector. There are hu

Swiggy rolls out 'incognito mode' to help users order food discreetly

Available on both Swiggy Food and Instamart, incognito mode ensures that users can place orders and keep their selections confidential

Swiggy reports Rs 33 crore fraud by ex-employee, files legal complaint

The IPO-bound company engaged an external team to investigate the and filed a legal complaint against the former junior employee for embezzling money

Zomato surges 8% on heavy volumes after 13% fall from record high in Aug

The average trading volumes on the counter jumped over two-fold, with a combined 83.99 million equity shares changing hands on the NSE and BSE till 10:40 AM.

Coffee Day, Barbeque-Nation: No long queues yet to buy restaurant stocks

Thus far in 2024, stocks such as Coffee Day Enterprises, Speciality Restaurants, Barbeque-Nation Hospitality, Restaurant Brands Asia and Westlife Foodworld have lost up to 42%, shows ACE Equity data.

Food aggregator Swiggy strengthens top deck ahead of upcoming IPO

This comes at a time when competition is intensifying in the rapidly growing quick commerce space

Hindustan Composites to acquire stake in Swiggy; stock gains 8.6%

Hindustan Composites has signed a share purchase agreement to acquire 1,50,000 shares of Swiggy, worth Rs 5.17 crore

Swiggy ropes in former Flipkart executive Amitesh Jha as Instamart CEO

Reshuffle of the top deck comes ahead of food delivery major's IPO

Swiggy appoints Amitesh Jha as CEO of grocery delivery arm Swiggy Instamart

Amitesh Jha previously worked with Flipkart for nearly 14 years before joining Swiggy's 10-minute delivery platform