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Indian coffee chain Blue Tokai targets three-fold revenue before deciding on IPO Indian coffee chain Blue Tokai is aiming for a nearly three-fold jump in annual revenue by 2027 before it decides whether to go public, its top boss told Reuters on Monday. Coffee culture is growing briskly in India, with the affluent in bigger cities increasingly working and holding meetings in cafes. To cash in on India's fast-growing $300 million speciality tea and coffee cafe market, Blue Tokai plans to operate about 350 cafes within the next three years in cities including Hyde...
Indian coffee chain Blue Tokai targets three-fold revenue before deciding on IPO
Indian coffee chain Blue Tokai targets three-fold revenue before deciding on IPO
Source: Reuters
2024-11-19 02:47:27 pm
CM Siddaramaiah inaugurates 27th Edition of Bengaluru Tech Summit The 27th edition of the Bengaluru Tech Summit (BTS) 2024, jointly organised by the Department of Electronics, IT, and BT of the Karnataka government and Software Technology Parks of India (STPI), was inaugurated by Chief Minister Siddaramaiah at the Palace Grounds here on Tuesday.  The summit witnessed significant international participation from over 15 countries, including Australia, the UK, France, Austria, the European Union, Denmark, Finland, Poland, Japan, Germany, Switzerland, ...
CM Siddaramaiah inaugurates 27th Edition of Bengaluru Tech Summit
CM Siddaramaiah inaugurates 27th Edition of Bengaluru Tech Summit
Source: IANS
2024-11-19 02:23:23 pm
Swiggy`s share turns stale, back at public listing price in just 1 day Online food delivery and quick commerce company Swiggy shares slipped 7.54 per cent to close at Rs 421.60 on Thursday -- just 24 hours after its strong public debut in a bearish market -- due to profit booking on higher level.  During the intra-day trading, shares of Swiggy touched Rs 489 on higher side and Rs 418 on the lower side. Trading volume and value in the trading session stood at 5.61 crore and Rs 2,522 crore on the NSE, respectively. Swiggy's shares were listed in the...
Swiggy`s share turns stale, back at public listing price in just 1 day
Swiggy`s share turns stale, back at public listing price in just 1 day
Source: IANS
2024-11-14 05:17:13 pm
Swiggy IPO: Early trading volatility reveals investor caution amid persistent losses Swiggy’s positive listing on the Indian stock market has stirred up notable excitement but early trading volatility reveals investor caution, market watchers said on Wednesday.  Swiggy’s share opened at Rs 420 per share on the National Stock Exchange, a 7.7 per cent premium over its IPO price of Rs 390. At closing, Swiggy’s shares settled almost 17 per cent higher at Rs 456 apiece on the NSE. “While there's optimism about Swiggy’s potential to capt...
Swiggy IPO: Early trading volatility reveals investor caution amid persistent losses
Swiggy IPO: Early trading volatility reveals investor caution amid persistent losses
Source: IANS
2024-11-13 06:01:29 pm
Prosus, Tencent made billions of dollars in Swiggy IPO It rained billions of dollars for global investment group Prosus and Chinese conglomerate Tencent as they raked in the moolah from their investments in Zomato-rival Swiggy’s IPO as it made its stock market debut on Wednesday at a valuation of over $11 billion.  According to the company's draft red herring prospectus (DRHP), Prosus invested nearly Rs 9,055 crore ($1.07 billion) in the online food platform and made Rs 26,927 crore ($3.2 billion) in IPO, thus netting a $2.12 bi...
Prosus, Tencent made billions of dollars in Swiggy IPO
Prosus, Tencent made billions of dollars in Swiggy IPO
Source: IANS
2024-11-13 05:56:01 pm
Swiggy-backed Rapido sees net loss at Rs 371 crore in FY24  Homegrown ride-sharing platform Rapido registered a net loss of Rs 371 crore last fiscal (FY24) from Rs 675 crore in FY23.  Controlled expenditure helped the company cut losses by about 45 per cent in FY24 from Rs 675 crore in FY23, as return on capital employed (ROCE) and EBITDA margins stood at -90.7 per cent and -52.5 per cent, respectively. The Swiggy-backed platform spent Rs 1.65 to earn Rs 1 last fiscal, according to its financials. Its operational revenue went up al...
Swiggy-backed Rapido sees net loss at Rs 371 crore in FY24
Swiggy-backed Rapido sees net loss at Rs 371 crore in FY24
Source: IANS
2024-11-13 05:18:40 pm
Swiggy`s shares jump 15% in Indian debut, value company at $11.9 billion Shares of Indian food and grocery delivery firm Swiggy jumped nearly 15% in their trading debut on Wednesday, bucking weakness in the broader market and a better performance than some analysts had predicted for the loss-making firm after its $1.4 billion IPO. The stock had listed at 420 rupees ($4.98) on India's National Stock Exchange and rose to a high of 448 rupees by late morning, compared to its issue price of 390 rupees, even as the country's benchmark indexes slid after a sp...
Swiggy`s shares jump 15% in Indian debut, value company at $11.9 billion
Swiggy`s shares jump 15% in Indian debut, value company at $11.9 billion
Source: Reuters
2024-11-13 01:43:29 pm
Swiggy lists with 6% premium on the BSE Swiggy has debuted at Rs 412.00 on the BSE, up by 22 points or 5.64% from its issue price of Rs 390.00.  The scrip is currently trading at Rs 404.20, up by 14.20 points or 3.64% from its issue price.  It has touched a high and low of Rs 419.95 and Rs 390.70 respectively. So far 27.31 lakh shares were traded on the counter. The offering, which was open for subscription between November 6, 2024 and November 8, 2024 was subscribed 3.59 times. The issue price was fixed at Rs 39...
Swiggy lists with 6% premium on the BSE
Swiggy lists with 6% premium on the BSE
Source: Accord Fintech
2024-11-13 11:35:00 am
Swiggy`s IPO subscribed 3.59 times on last day Online food delivery platform Swiggy's Rs 11,327 crore IPO was subscribed 3.59 times on the last day of bidding on Friday after a muted response from the investors in the initial two days of its public issue.   Swiggy IPO was subscribed 0.35 times and 0.12 times on the issue's second and first day, respectively. The reserve portion of qualified institutional buyers (QIBs) subscribed 6.02 times, the non-institutional investors (NIIs) portion saw 0.41 times subscription, the ret...
Swiggy`s IPO subscribed 3.59 times on last day
Swiggy`s IPO subscribed 3.59 times on last day
Source: IANS
2024-11-09 10:10:08 am
Tepid response to Swiggy IPO continues, 35 pc subscription on Day 2 Swiggy IPO continued to see a tepid response from investors on the second day of bidding on Thursday. The Rs 11,327 crore IPO was subscribed 0.35 times or 35 per cent on the second day.  The food delivery company's IPO was opened on Wednesday and subscribed 12 per cent on the first day. As of 5 p.m. on Thursday, qualified institutional buyers (QIBs) subscribed 28 per cent or 0.28 times, the non-institutional investors (NIIs) portion saw 14 per cent or 0.14 times, retail individ...
Tepid response to Swiggy IPO continues, 35 pc subscription on Day 2
Tepid response to Swiggy IPO continues, 35 pc subscription on Day 2
Source: IANS
2024-11-08 09:27:09 am
Swiggy $1.4 billion IPO opens for orders as Indian stocks lose some of their appeal  Indian food and grocery delivery firm Swiggy is expected to see just modest demand from retail investors for its $1.4 billion IPO even after cutting its hoped-for valuation twice, with momentum for domestic stocks having cooled considerably. The country's second-largest IPO for the year opened for bids on Wednesday with orders to be taken until Nov.8. The price range is 371-390 rupees. But while India was an outlier in Asia with a string of high-profile offerings this year, Sw...
Swiggy $1.4 billion IPO opens for orders as Indian stocks lose some of their appeal
Swiggy $1.4 billion IPO opens for orders as Indian stocks lose some of their appeal
Source: Reuters
2024-11-06 02:27:24 pm
IPO Note : Swiggy Ltd by Geojit Financial Services Ltd Swiggy Ltd An E-commerce Player Poised for Sustainable Growth Swiggy Ltd., (Swiggy) established in 2013, is a new-age, user-centric technology company offering a comprehensive convenience platform through a single app. Users can order food, groceries, and household items (Instamart) for doorstep delivery via an on-demand network. The platform also includes restaurant reservations, product pick-up/drop-off services (Genie), and other hyperlocal commerce activities. Swiggy enhances its of...
IPO Note : Swiggy Ltd by Geojit Financial Services Ltd
IPO Note : Swiggy Ltd by Geojit Financial Services Ltd
Source: Geojit Financial Services Ltd
2024-11-06 11:53:54 am
IPO Note : Swiggy Ltd By Nirmal Bang Ltd Swiggy Ltd BACKGROUND Incorporated in 2014, Swiggy is a popular online food ordering and delivery partner, offering a variety of convenience services. These include food delivery, restaurant reservations via “Dineout,” event bookings with “SteppingOut,” parcel pick-up and drop-off through “Genie,” and hyperlocal commerce activities like Swiggy Minis and also expanded into grocery delivery with Instamart and operates in over 580 cities. Objects and ...
IPO Note : Swiggy Ltd By Nirmal Bang Ltd
IPO Note : Swiggy Ltd By Nirmal Bang Ltd
Source: Nirmal Bang Ltd
2024-11-06 11:46:23 am
IPO Note : Swiggy Ltd By Motilal Oswal Financial Services Ltd Pioneered hyperlocal commerce platform: Swiggy has successfully pioneered the hyperlocal commerce industry in India, launching Food Delivery in 2014 and Quick Commerce in 2020, and is well-recognised as a leader in innovation. Currently it is the 2nd largest player in India in both the categories which are large addressable markets, witnessing rapid online penetration and are relatively nascent with high growth headroom. Food delivery and Quick commerce are expected to grow at CAGR of ~17...
IPO Note : Swiggy Ltd By Motilal Oswal Financial Services Ltd
IPO Note : Swiggy Ltd By Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services Ltd
2024-11-06 11:29:18 am
IPO Note : Swiggy Ltd By ARETE Securities Ltd Swiggy Ltd Swiggy, founded in 2014 and based in Bangalore, has evolved from a food delivery startup to one of India's largest online food and quick commerce platforms, serving over 580 cities. Initially focused solely on connecting users with a wide network of restaurants, Swiggy has built a reputation for fast deliveries and reliable service, with features like live order tracking, in-app support, and multiple payment options. Beyond food, Swiggy has diversified to meet broader urban ...
IPO Note : Swiggy Ltd By ARETE Securities Ltd
IPO Note : Swiggy Ltd By ARETE Securities Ltd
Source: ARETE Securities Ltd
2024-11-06 11:20:29 am
Swiggy, Niva Bupa and 2 other mainboard IPOs set to launch next week India's primary market will be in focus next week as Swiggy, Niva Bupa Health Insurance, Sagility India, and ACME Solar Holdings will launch IPOs to raise Rs 18,534 crore from the stock market.   The biggest IPO among these will be of food delivery company Swiggy, which is planning to raise more than Rs 11,000 crore through IPO from the stock market. All these IPOs will open for retail investors between November 5 and 7. The public issue of healthcare sector company Segility...
Swiggy, Niva Bupa and 2 other mainboard IPOs set to launch next week
Swiggy, Niva Bupa and 2 other mainboard IPOs set to launch next week
Source: IANS
2024-11-03 05:43:22 pm
Billionaire Mukesh Ambani`s Reliance plays catch-up to ride India quick commerce wave Asia's richest man Mukesh Ambani is mimicking the strategy of popular Indian grocery startups to drastically change how his retail empire operates: from home deliveries that can take a day or two, his business is now targeting a 10-30 minute service. Quick commerce has reshaped how Indians shop as Zomato, SoftBank-backed Swiggy and Zepto now promise deliveries from their neighbourhood warehouses within 10 minutes, even beating Amazon. These multi-billion-dollar quick commerce businesse...
Billionaire Mukesh Ambani`s Reliance plays catch-up to ride India quick commerce wave
Billionaire Mukesh Ambani`s Reliance plays catch-up to ride India quick commerce wave
Source: Reuters
2024-10-30 09:15:29 am
India`s Swiggy prices $1.35 billion IPO at 371-390 rupees apiece Indian food delivery giant Swiggy has set a price band of 371 rupees to 390 rupees per share for its $1.35 billion domestic initial public offering (IPO), a newspaper advertisement showed on Wednesday. Swiggy's IPO will be the country's second-biggest stock offering this year, behind carmaker Hyundai India's $3.3 billion IPO earlier this month. ($1 = 84.0660 Indian rupees)
India`s Swiggy prices $1.35 billion IPO at 371-390 rupees apiece
India`s Swiggy prices $1.35 billion IPO at 371-390 rupees apiece
Source: Reuters
2024-10-30 09:03:56 am
Swiggy likely to price $1.4 billion IPO at 371-390 rupees/share, sources say Indian food delivery giant Swiggy will likely price its $1.4 billion initial public offering at 371-390 rupees per share, sources with direct knowledge of the matter told Reuters on Monday. Swiggy has in recent weeks cut its internal valuations goal twice by a combined 25% due to volatility in the markets. It was initially looking at a valuation of as much as $15 billion, but following those cuts it is now targeting $11.3 billion. Swiggy did not respond to a Reuters request for comment....
Swiggy likely to price $1.4 billion IPO at 371-390 rupees/share, sources say
Swiggy likely to price $1.4 billion IPO at 371-390 rupees/share, sources say
Source: Reuters
2024-10-29 09:11:57 am
Top Decile startup fund TDV Partners launches their new fund of Rs 50 Crore Early Stage focused micro VC firm Trillion Dollar Ventures has announced the launch of their second fund with a total corpus of Rs 50 Crore. The fund aims to back innovative founders with a global outlook from Day 1, supporting companies in the pre-seed and seed stages with cheque sizes ranging from Rs 1-2 crore per startup. The vision of the fund is to collaborate and nurture companies that can potentially become Trillion Dollar Ventures of tomorrow.  Founded in 2021, by Ujwal S...
Top Decile startup fund TDV Partners launches their new fund of Rs 50 Crore
Top Decile startup fund TDV Partners launches their new fund of Rs 50 Crore
Source: PR Agency
2024-10-03 02:03:35 pm
Indian equity capital markets raise record $49.2 bn in Jan-Sep period, IPOs jump 63 pc The India equity capital markets hit a record high and raised $49.2 billion in the first nine months this year (January-September period) -- a massive 115 per cent growth compared to a year ago -- surpassing the annual record set in 2020 by proceeds, a report showed on Thursday.  The number of equity capital market offerings also saw a 61 per cent increase year-on-year, according the report by LSEG, a global financial markets infrastructure and data provider. Initial public offerin...
Indian equity capital markets raise record $49.2 bn in Jan-Sep period, IPOs jump 63 pc
Indian equity capital markets raise record $49.2 bn in Jan-Sep period, IPOs jump 63 pc
Source: IANS
2024-10-03 09:47:17 am
Swiggy files for $1.25 billion IPO in India's booming stock market SoftBank-backed Swiggy filed papers on Thursday for an initial public offering, which a source said would be worth $1.25 billion, as the food delivery firm looks to tap a booming stock market in one of India's biggest listings this year. Swiggy is selling shares worth 37.5 billion rupees ($448.56 million), while existing shareholders including Prosus, Accel India and Tencent Europe will sell about 185.3 million shares, the company said in its draft prospectus. The Bengalur...
Swiggy files for $1.25 billion IPO in India's booming stock market
Swiggy files for $1.25 billion IPO in India's booming stock market
Source: Reuters
2024-09-27 08:24:44 am
Gig workers must develop industry-specific knowledge to remain competitive  There is a persistent skill gap among gig economy workers and they must develop industry-specific knowledge to remain competitive, a report said on Tuesday.  The report by TeamLease Edtech showed that 42.86 per cent of gig workers lack industry knowledge as the primary skill deficit. While gig workers are often technically adept, the absence of domain expertise can hinder their efficiency and effectiveness. In addition to this, 28.57 per cent of employers cited soft skills, i...
Gig workers must develop industry-specific knowledge to remain competitive
Gig workers must develop industry-specific knowledge to remain competitive
Source: IANS
2024-09-24 02:06:13 pm
IPO-bound Swiggy clocks Rs 2,350 crore net loss in FY24 Zomato’s rival Swiggy, set for its initial public offering (IPO) posted Rs 2,350 crore in net loss in the last fiscal year (FY24).  The online food delivery platform, however, reduced the net loss by 44 per cent, from Rs 4,179 crore in FY23.  The company saw its revenue grow 36 per cent to Rs 11,247 crore in FY24, from Rs 8,265 crore in the previous year.  Swiggy’s gross order value (GOV) stood at $4.2 billion, up 26 per cent year-on-year (YoY) as monthly t...
IPO-bound Swiggy clocks Rs 2,350 crore net loss in FY24
IPO-bound Swiggy clocks Rs 2,350 crore net loss in FY24
Source: IANS
2024-09-05 02:20:49 pm
Hindustan Composites surges on inking pact to acquire stake in Swiggy Hindustan Composites is currently trading at Rs. 617.95, up by 35.30 points or 6.06% from its previous closing of Rs. 582.65 on the BSE. The scrip opened at Rs. 620.00 and has touched a high and low of Rs. 633.00 and Rs. 608.90 respectively. So far 3341 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 669.90 on 20-Aug-2024 and a 52 week low of Rs. 370.00 on 05-Jun-2024. Last one week high and low of the scrip sto...
Hindustan Composites surges on inking pact to acquire stake in Swiggy
Hindustan Composites surges on inking pact to acquire stake in Swiggy
Source: Accord Fintech
2024-09-03 10:25:09 am
Swiggy targets $15 billion valuation in India IPO, sources say SoftBank-backed Indian food delivery giant Swiggy is targeting a valuation of around $15 billion for its upcoming stock market offering to raise $1-1.2 billion, three people familiar with the matter said. The deal would make it one of biggest Indian initial public offerings this year. Swiggy competes with Zomato in India's online restaurant and cafe food deliveries sector, and both have made major bets on the new so-called quick commerce boom where groceries and other products are b...
Swiggy targets $15 billion valuation in India IPO, sources say
Swiggy targets $15 billion valuation in India IPO, sources say
Source: Reuters
2024-08-24 09:43:24 am
Blinkit rival Zepto set to raise $340 million at $5 billion valuation  Quick commerce company Zepto is set to raise $340 million in the new round of funding, a report said on Wednesday. “The company has secured interest from Mars Growth and General Catalyst at a valuation of $5 billion which is a 40 per cent hike from the past funding round valuation of $3.6 billion,” the report said. Adit Palicha-led Zepto had raised funding of $665 million or Rs 5,560 crore in June at a valuation of $3.6 billion. The company aims to double the number...
Blinkit rival Zepto set to raise $340 million at $5 billion valuation
Blinkit rival Zepto set to raise $340 million at $5 billion valuation
Source: IANS
2024-08-14 05:23:18 pm
Swiggy integrates UPI for in-app payment in 5 seconds Online food delivery platform Swiggy on Wednesday announced the launch of 'Swiggy UPI', integrating National Payments Corporation of India’s (NPCI) digital payments solution to deliver faster in-app experience for customers.  Users can now complete UPI transactions without leaving the Swiggy app, reducing the payment process from five steps to just one, the food aggregator said in a statement. “This feature aligns with Swiggy’s mission to enable unparallel...
Swiggy integrates UPI for in-app payment in 5 seconds
Swiggy integrates UPI for in-app payment in 5 seconds
Source: IANS
2024-08-14 02:03:21 pm
Zomato, Swiggy hike platform fee to Rs 6 per order Food delivery platforms Zomato and Swiggy have once again hiked platform fee to Rs 6 per order from an earlier Rs 5 — a 20 per cent increase. Currently being charged in Delhi and Bengaluru, the platform fee is different from delivery fee, goods and services tax (GST), restaurant charges and handling charges. The higher platform fee will roll out to other cities as well. The platform fee goes to the food aggregators to apparently control costs and increase revenues. In April,...
Zomato, Swiggy hike platform fee to Rs 6 per order
Zomato, Swiggy hike platform fee to Rs 6 per order
Source: IANS
2024-07-15 10:01:18 am
US-based Baron Capital again increases Swiggy`s valuation to $15.1 bn US-based asset manager Baron Capital has again increased IPO-bound online food delivery platform Swiggy's valuation to $15.1 billion.  The latest valuation as of March 31 shows a 24 per cent increase from Baron’s previous mark-up of Swiggy’s valuation to $12.2 billion, according to regulatory filings with the US Securities and Exchange Commission (SEC). This development comes at a time when Swiggy is preparing for its IPO. The company has obtained shareholders' ...
US-based Baron Capital again increases Swiggy`s valuation to $15.1 bn
US-based Baron Capital again increases Swiggy`s valuation to $15.1 bn
Source: IANS
2024-06-03 05:09:45 pm
Swiggy Instamart Debuts Star Wars and Harry Potter Merchandise, Bringing Movie Merch to Quick Commerce Swiggy Instamart will now deliver official Star Wars merchandise on the platform, just in time for May 4th - a day celebrated by Star Wars fans worldwide. Swiggy Instamart is the first quick commerce platform to start delivering movie merchandise, marking a new category in the quick commerce industry. Fans of the galaxy far, far away can now get their hands on a variety of Star Wars products including the lightsaber, posters, mugs, fridge magnets, stickers, bobbleheads, and T-shi...
Swiggy Instamart Debuts Star Wars and Harry Potter Merchandise, Bringing Movie Merch to Quick Commerce
Swiggy Instamart Debuts Star Wars and Harry Potter Merchandise, Bringing Movie Merch to Quick Commerce
Source: PR Agency
2024-05-04 12:41:34 pm
Swiggy gets shareholders` nod for $1.2 billion IPO this year Online food delivery platform Swiggy is planning to file for an initial public offering (IPO) worth $1.2 billion this year after receiving an approval from its shareholders. According to a regulatory filing, the company aims to raise up to Rs 3,750 crore through a fresh issue and around Rs 6,664 crore as an offer-for-sale (OFS) component. The regulatory filing, prepared after the extraordinary general meeting (EGM) of Swiggy on April 23, read that "the consent and approval of the s...
Swiggy gets shareholders` nod for $1.2 billion IPO this year
Swiggy gets shareholders` nod for $1.2 billion IPO this year
Source: IANS
2024-04-25 01:38:56 pm
Nearly 60 lakh biryani orders received this Ramzan: Swiggy  Online food delivery platform Swiggy on Wednesday revealed that close to 60 lakh Biryani orders were received during the holy month of Ramzan. The Biryani orders were 15 per cent up (from March 12 to April 8) compared to regular months. Hyderabad topped the chart by ordering over a million plates of biryani and 5.3 lakh plates of Haleem. Traditional favourites like haleem and samosa continued to dominate the iftar table, the company said in a statement. During Ramzan, Swiggy...
Nearly 60 lakh biryani orders received this Ramzan: Swiggy
Nearly 60 lakh biryani orders received this Ramzan: Swiggy
Source: IANS
2024-04-11 08:53:01 am
Swiggy now delivers to houseboats on Dal Lake in Srinagar Online food delivery platform Swiggy on Monday said that it now delivers to tourists staying on houseboats on Dal Lake in Srinagar. The company has partnered with Shikara operators who will assist local delivery partners to deliver to the doorsteps of the houseboats. "The Swiggy houseboat delivery is a great example of the company’s mission of offering unparalleled convenience, no matter where the consumer is," Sidharth Bhakoo, National Head of Business, Swiggy Food, sai...
Swiggy now delivers to houseboats on Dal Lake in Srinagar
Swiggy now delivers to houseboats on Dal Lake in Srinagar
Source: IANS
2024-04-08 01:41:57 pm
Swiggy appoints Titan`s Suparna Mitra as independent director Online food delivery platform Swiggy on Thursday announced the appointment of Suparna Mitra as an independent director to its board. Mitra, who is the CEO of Titan Company Limited’s Watches and Wearables Division, brings over 30 years of experience in lifestyle and retail. "I look forward to collaborating with the board members and management team of Swiggy; aimed at value-creation and values-based governance," Mitra said in a statement. Mitra was appointed to the com...
Swiggy appoints Titan`s Suparna Mitra as independent director
Swiggy appoints Titan`s Suparna Mitra as independent director
Source: IANS
2024-04-04 05:18:53 pm
Top VC firm Accel to nurture 8 early-stage startups in India  Leading venture capital firm Accel on Thursday announced eight early-stage startups in India which are part of the third cohort of its accelerator programme called ‘Atoms’. The cohort receives up to $500,000 in funding, access to perks worth more than $5 million from Accel’s network partners, personalised mentorship, and the opportunity to collaborate with a strong peer community of founders from past cohorts and portfolio founders. The 24 startups, which were pa...
Top VC firm Accel to nurture 8 early-stage startups in India
Top VC firm Accel to nurture 8 early-stage startups in India
Source: IANS
2024-03-28 10:28:09 am
Zepto becomes first quick-commerce firm to levy platform fee of Rs 2 Zepto has become the first quick-commerce company to introduce a platform fee of Rs 2 per order. The platform fee will apply to a select set of users. Currently, Zomato-owned Blinkit and Swiggy Instamart, both competitors of Zepto, do not charge a fee on grocery orders, but collect a platform fee from food delivery orders. "We do not believe in being over-dependent on delivery fees to be profitable. We believe in core operating efficiency and cost reduction to be profitable. We ...
Zepto becomes first quick-commerce firm to levy platform fee of Rs 2
Zepto becomes first quick-commerce firm to levy platform fee of Rs 2
Source: IANS
2024-03-13 03:43:07 pm
US-based Baron Capital ups Swiggy`s valuation to $12.16 bn US-based Baron Capital has increased IPO-bound online food delivery platform Swiggy's valuation to $12.16 billion, higher than the $10.7 billion post-money valuation at which the company secured funding in early 2022. In its new filings, Baron Capital mentioned that it had increased the value of its share in Swiggy to $87.2 million, up from its original $76.7 million investment in the company, reported TechCrunch on Friday. The investment firm wrote in a separate filing that "S...
US-based Baron Capital ups Swiggy`s valuation to $12.16 bn
US-based Baron Capital ups Swiggy`s valuation to $12.16 bn
Source: IANS
2024-03-09 10:26:54 am
Swiggy, IRCTC ink MoU to provide food delivery service on trains  Online food delivery platform Swiggy on Tuesday said that the company has signed a Memorandum of Understanding (MoU) with the Indian Railway Catering and Tourism Corporation (IRCTC) to provide food delivery service on trains. As part of the MoU, Swiggy will deliver food to train passengers travelling via Bengaluru, Bhubaneswar, Visakhapatnam and Vijayawada. The service is likely to expand to 59 additional city stations across the country in the coming weeks, the company said. &...
Swiggy, IRCTC ink MoU to provide food delivery service on trains
Swiggy, IRCTC ink MoU to provide food delivery service on trains
Source: IANS
2024-03-05 04:14:38 pm
India`s Zomato hits record high, bucking internet stocks` sluggishness Shares of Indian food delivery platform Zomato hit a record high on Friday, as improving profitability paves the way for future growth, triggering a turnaround in investor sentiment. Zomato is the most-valuable internet stock in Asia's third-largest economy, with a market capitalisation of more than 1.51 trillion rupees ($18 billion). On Friday, its shares rose nearly 5% to 173.5 rupees. India's several new-age internet companies that hit the markets during the IPO frenzy in 202...
India`s Zomato hits record high, bucking internet stocks` sluggishness
India`s Zomato hits record high, bucking internet stocks` sluggishness
Source: Reuters
2024-03-01 02:34:45 pm
IRCTC surges on tying up with Bundl Technologies Indian Railway Catering and Tourism Corporation is currently trading at Rs. 961.85, up by 25.90 points or 2.77% from its previous closing of Rs. 935.95 on the BSE. The scrip opened at Rs. 946.70 and has touched a high and low of Rs. 965.00 and Rs. 946.00 respectively. So far 370283 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1049.75 on 23-Jan-2024 and a 52 week low of Rs. 557.15 on 29-Mar-2023. Last one week...
IRCTC surges on tying up with Bundl Technologies
IRCTC surges on tying up with Bundl Technologies
Source: Accord Fintech
2024-02-23 09:13:58 am
Hyundai India proposed IPO could open floodgates for many more MNCs to list in India  Hyundai India, which was established nearly three decades ago, recently announced its listing plans in India. Foreign brokerage, Jefferies said this announcement could open floodgates for many more multinational companies that are operating in India with a significant market share but are still unlisted in the Indian markets. Some of the global MNCs listed in India have enjoyed market cap growth much faster than their Global Listed companies driven by higher sustainable multiples ...
Hyundai India proposed IPO could open floodgates for many more MNCs to list in India
Hyundai India proposed IPO could open floodgates for many more MNCs to list in India
Source: IANS
2024-02-22 02:17:35 pm
Zomato registers Rs 125 cr profit in Q3 FY24, revenue up 53% Food delivery platform Zomato on Thursday said it registered Rs 125 crore in profit in the third quarter (Q3) of the current financial year -- an improvement by Rs 390 crore as compared to the same quarter last year. Consolidated adjusted revenue grew 53 per cent year-on-year to Rs 3,609 crore in Q3 FY24 for the company. Gross order value (GOV) across its B2C businesses grew 47 per cent YoY to Rs 12,886 crore. On an annualised basis, Zomato crossed Rs 50,000 crore of GOV in its B2C busi...
Zomato registers Rs 125 cr profit in Q3 FY24, revenue up 53%
Zomato registers Rs 125 cr profit in Q3 FY24, revenue up 53%
Source: Reuters
2024-02-08 03:36:09 pm
IPO-bound Swiggy`s losses widen to Rs 4,179 cr in FY23, revenue up 45%  Online food delivery platform Swiggy's net losses expanded to reach Rs 4,179 crore in the financial year ended March 31, 2023. The IPO-bound Swiggy’s operating revenue jumped around 45 per cent to Rs 8,264 crore in FY23 from Rs 5,704 crore in FY22. The Invesco-backed company incurred a net loss of Rs 4,179.3 crore in FY23, an increase of around 15 per cent from Rs 3,628.9 crore in the previous fiscal year. Additionally, the cost of employee benefits climbed by 25 per ...
IPO-bound Swiggy`s losses widen to Rs 4,179 cr in FY23, revenue up 45%
IPO-bound Swiggy`s losses widen to Rs 4,179 cr in FY23, revenue up 45%
Source: IANS
2024-01-31 02:35:11 pm
All kinds of preparations on for Swiggy`s IPO: Co-founder Online food delivery platform Swiggy's co-founder and CEO Sriharsha Majety has said that all preparations are underway for its mega Initial Public Offering (IPO), via which it is likely to raise $1 billion later this year. "We've been preparing for our IPO. We've added independent directors to the board and there are all kinds of preparations that are on," Majety told Moneycontrol. For its IPO process, the company is likely to have picked seven investment banks, in...
All kinds of preparations on for Swiggy`s IPO: Co-founder
All kinds of preparations on for Swiggy`s IPO: Co-founder
Source: IANS
2024-01-16 09:40:03 am
Indian online delivery platforms served 65 lakh food orders on New Year`s Evening There were 65 lakh online food delivery orders from Zomato, Swiggy and others on the New Year's Eve 2023, setting a record and delivering 18 per cent higher volumes than the New Year's Eve 2022, a report showed on Thursday. The average order value (AOV) on the day was also at least 30 per cent higher compared to other days of the year, according to market research firm Redseer Strategy Consultants. “Spike days like the IPL, Cricket World Cups, Diwali, NYE etc. are critical...
Indian online delivery platforms served 65 lakh food orders on New Year`s Evening
Indian online delivery platforms served 65 lakh food orders on New Year`s Evening
Source: IANS
2024-01-11 03:17:39 pm
US-based Invesco raises Swiggy`s valuation to $8.3 bn US-based investment company Invesco has raised IPO-bound food delivery platform Swiggy's valuation to about $8.3 billion. This is the second consecutive time the global asset management company has increased Swiggy's value, according to regulatory filings. In October last year, Invesco increased the food delivery platform’s valuation to about $7.85 billion. Swiggy had reached a $10.7 billion valuation in a round led by Invesco in January 2022. In May last year, Inves...
US-based Invesco raises Swiggy`s valuation to $8.3 bn
US-based Invesco raises Swiggy`s valuation to $8.3 bn
Source: IANS
2024-01-04 11:59:40 am
From Zomato to Oyo, massive surge in orders, bookings on New Year`s Eve  Food delivery platforms like Zomato and Swiggy and quick commerce platforms like Blinkit and Zepto, along with hospitality major Oyo, saw highest-ever orders and bookings on the New Year's Eve, compared to previous years. The quick grocery and food delivery platforms received huge orders as revellers preferred to stay home to celebrate the New Year. “We have delivered almost as many orders on NYE 23 as we did on NYE 15, 16, 17, 18, 19, 20 combined. Excited about the futu...
From Zomato to Oyo, massive surge in orders, bookings on New Year`s Eve
From Zomato to Oyo, massive surge in orders, bookings on New Year`s Eve
Source: IANS
2024-01-01 11:07:12 am