Swiggy to foray into ownership, management of sports teams business
Food delivery and quick commerce player Swiggy is setting up a subsidiary to foray into the growing demand for recreational activities.
Food delivery and quick commerce player Swiggy is setting up a subsidiary to foray into the growing demand for recreational activities.
Zomato addressed the claims of the antitrust investigation by the Competition Commission of India (CCI) into its business practices, and called them “misleading”.
The IPO received bids for about 1.8 crore shares against around 16 crore shares on offer, according to the NSE data.
The highly anticipated IPO of online food and grocery delivery giant is set to debut on Dalal Street on November 6, aiming to raise approximately Rs 11,327.43 crore from the primary 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.
For its IPO process, the company is likely to have picked seven investment banks, including Kotak Mahindra Capital, Citi and JPMorgan, Bofa Securities, Jefferies, among others.
In yet another top-level exit, Sidharth Satpathy, Vice President at Swiggy Instamart, has quit the company after around five years.
The quick grocery and food delivery platforms received huge orders as revellers preferred to stay home to celebrate the New Year.
Domestic markets are ending the year 2023 on a buoyant note as Nifty scales above 21,500 mark while Sensex crosses 71,000.
As 2023 comes to a close, online food delivery platform Swiggy on Tuesday revealed that a user from Jaipur placed 67 orders on Instamart on a single day this year.
