Income Tax Department Issues INR 158 Cr Demand Notice to Swiggy
According to Swiggy's exchange filing, the company is accused of improperly taking deductions for "cancellation charges paid to merchants".
swiggy
Swiggy's Rapid Commerce Profit Margins Suffer as Discounts and Expansion take Priority
In the third quarter of the current fiscal year (Q3 FY25), Swiggy Instamart's margins were negatively impacted by the growing rivalry in the rapid commerce market, as the company increased its investments to keep the competition at bay. The contribution margin for Swiggy Instamart decreased from -1.9%
2.61 Cr Equity Shares Are Allotted by Swiggy Under ESOP Plans
2.61 Cr equity shares have been distributed by listed foodtech giant Swiggy through its different employee stock option (ESOP) plans. Swiggy announced in an exchange filing on January 25 that the nominating and compensation committee had authorised the distribution of 2,61,93,411 equity shares of the firm
Swiggy Receives MCA Approval to Include Sports Arm
The corporate affairs ministry (MCA) has given foodtech giant Swiggy permission to incorporate Swiggy Sports Private Limited, its sports division. The company stated in an exchange filing on January 16 that the newly incorporated entity's primary goals will be to engage in sports team ownership, management, talent development,
Regarding Zomato and Swiggy's 10-minute Delivery Apps, NRAI Plans to Approach CCI
The National Restaurant Association of India (NRAI) is expected to petition the Competition Commission of India (CCI) for intervention about the launch of the 10-minute meal delivery standalone apps, Bistro and Snacc, adding to the problems caused by Zomato and Swiggy's anti-competitive conduct. According to a media story
Swiggy will Release Instamart as a Stand-Alone App
Group CEO and co-founder Sriharsha Majety told a media outlet that Swiggy, a food and grocery delivery service, plans to release its rapid commerce offering, Instamart, as a stand-alone app as part of its multi-app strategy in response to changing consumer preferences. Instamart will undoubtedly be available on the main
Swiggy Introduces Swiggy Serves to Combat Hunger and Food Waste
In an attempt to cut down on food waste throughout its value chain, listed foodtech giant Swiggy has started a new campaign called "Swiggy Serves." In an effort to combat hunger nationwide, Swiggy intends to redistribute excess food from its restaurant partners to underprivileged areas, the firm announced
The New Stand-Alone App from Swiggy 'Snacc' for Food Delivery in 15 minutes
Swiggy, a platform that delivers groceries and food, has released a new app called Snacc that allows users to order meals, snacks, and beverages in as little as 15 minutes. The debut coincides with a race among Indian food delivery apps to deliver hot beverages and biryani to consumers'
Coca-Cola-Supported Foodtech Company Thrive Closes
According to Krishi Fagwani, cofounder and CEO of the foodtech platform Thrive, it is the most recent Indian firm to cease operations. The cofounder blamed a lack of resources for the decision to shut down operations in a LinkedIn post. "We've worked hard over the years to
Swiggy Supports Events by Introducing its New "Scenes" Offering
Foodtech giant Swiggy has introduced Swiggy Scenes, a new feature on its app, in what appears to be an attempt to strengthen its events and ticketing play. The new option, which was introduced under Swiggy's "Dineout" offering, enables customers to reserve events, parties, and live music
Swiggy Introduces "One BLCK," a New Membership Plan
On 11 December 2024, Swiggy, a food and grocery delivery service, unveiled One Blck, an invite-only membership that will be a level beyond its current loyalty programme. The goal of the change is to boost growth in all of its business sectors while improving the experience for premium clients. Swiggy&
While Raising PT to INR 470, HDFC Securities Downgrades Swiggy to “Reduce”
HDFC Securities, a broking firm, downgraded Swiggy from "add" to "reduce"; however, it raised its target price from INR 430 per share to INR 470. This would indicate a 9.2% decline from the stock's last closing price. Swiggy's stock closed on
Swiggy's Food Delivery Business is not Concentrating on Expanding into New Cities
The food delivery industry has reached a saturation point in terms of the number of cities; thus, foodtech giant Swiggy is concentrating on strengthening its position in the current locations rather than expanding geographically. Following the release of its financial results for the second quarter of FY25, the company emphasised
🔍Insights
Swiggy Marketing Strategy: What Makes Swiggy India’s Go-To for Online Orders
Swiggy started as a simple service that was into just delivering food and has now evolved into a platform that delivers not only food but groceries, essentials, and everything else with a few taps on your phone. Even amidst stiff competition with its largest rival, Zomato, Swiggy has climbed to
Swiggy Extended its 10-minute Meal Delivery Service, "Bolt," to More than 400 Locations
Swiggy Ltd., an on-demand convenience platform, announced on 2 December that it has extended its Bolt 10-minute meal delivery service to more than 400 Indian cities and towns. According to a statement from Swiggy, Bolt was first introduced in Bangalore, Chennai, Hyderabad, New Delhi, Mumbai, and Pune. Today, it operates
A Single-Dish Restaurants are Delisted by Zomato
Zomato, a prominent player in the foodtech industry, has cracked the whip and delisted several "potentially fraudulent" restaurants after consumers reported several single-dish restaurants on the platform. "We have removed all of these eateries from our site after identifying them as possibly fake. We have also looked
In Just 10 Minutes, Blinkit's Massive Order Fleet will Bring PS5, Baggage and More
According to a media report, Blinkit, Zomato's rapid commerce division, has started a pilot programme to test a large-order fleet intended for delivering heavier consumer goods within the Delhi NCR area. Geysers, air purifiers, luggage bags, and PlayStations are among the things handled by the fleet, according to
The Fintech Business PayU is Being Considered for IPO by Prosus in 2025
According to a November 13 media report, Prosus, which recently saw a healthy return on its investment in Swiggy at the food delivery startup's initial public offering (IPO), plans to list PayU, its payments and fintech business in India, in 2025. Ervin Tu, the group chief investment officer
With Swiggy's IPO, 5,000 Employees will have Access to INR 9,000 Core in Esop
On November 13, 2024, Swiggy went public on the NSE at a price of INR 420, 7.69% higher than its IPO price of INR 390. At INR 412 on the BSE, it made its debut at a premium of 5.64%. According to various published reports, the company'
Swiggy is Prohibited by a B'luru Court from Alienating a Terminated Executive's ESOP
Until the next hearing, the court barred Swiggy from alienating 24 of a former executive's exercised stock options and 185.454 vested and unexercised stock options. Arun Cyril, Swiggy's former assistant vice president, contested his "illegal" dismissal from the foodtech firm and the ESOPs
👨💻StartupTalkers
Sriharsha Majety: Visionary Behind Swiggy
We have lived in times when going out to eat meant the celebration of special occasions. Then came a period when visiting a restaurant became almost a weekend thing & now, we live in a ‘Netflix & chill’ era where we prefer food reaching us to going out to eat.
Collections 🗒️
Acquisitions by Swiggy: Building a Stronger Business Through Strategic Expansions
Swiggy has been making the lives of urban customers more convenient for customers since 2014. Since Swiggy was founded, it has acquired five companies and subsidiaries as it has expanded its empire and diversified its business. The leading on-demand food delivery platform is now a logistics hub of excellence. Swiggy
INR 5,085 Crore is Raised by Swiggy from Anchor Investors
More than 75 anchor investors have contributed about INR 5,085 crore (about $600 million) to Swiggy, one of the top food and grocery delivery services in India. The Bengaluru-based business, which rivals Zomato, which is run by Deepinder Goyal, revealed the investment in a stock exchange filing on 5
📄Company Profiles
Swiggy: How is it Delivering Happiness at the Doorstep?
Do you wish to have a delicious bite of blueberry cheesecake in the middle of the day at work or a hearty biryani meal for lunch? Moving out of your house, facing the relentless traffic, unending queues at restaurants and cafes, waiting for your order, etc., sounds demotivating as always.