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AceVector, the parent company of Snapdeal, plans to launch an IPO. The company has submitted draft papers to Sebi. AceVector also operates Unicommerce and Stellar Brands. Unicommerce became a public company in 2024. AceVector has opted for confidential pre-filing. This allows flexibility in IPO plans. Several other companies have also chosen this route. The pre-filing route offers greater flexibility. AceVector, parent company of e-commerce marketplace Snapdeal, has confidentially filed draft p ...Read More >
Bengaluru, July 14 (UNI) In a disturbing incident of road rage, a Swiggy food delivery agent was violently assaulted by three unidentified men near Modi Hospital Junction, under the Basaveshwaranagar police limits, late yesterday night. The assault, which was caught on video and widely circulated online, has raised serious concerns over the safety of delivery personnel operating in India's IT capital. According to police, the delivery agent had stopped his two-wheeler at a red light when a veh ...Read More >
New Delhi: Logistics service provider Shadowfax Technologies has filed for an initial public offering (IPO) through a confidential pre-filing route, with an aim to raise Rs 2,000-2,500 crore, industry sources familiar with the development said. The company could be valued at around Rs 8,500 crore, they added.The IPO is a mix of fresh issue and an offer-for-sale (OFS) by existing shareholders. In a public announcement on Tuesday, Shadowfax Technologies said it has "pre-filed draft red herring p ...Read More >
New Delhi, Jul 1 (PTI) Logistics service provider Shadowfax Technologies has filed for an initial public offering (IPO) through a confidential pre-filing route, with an aim to raise Rs 2,000-2,500 crore, industry sources familiar with the development said. The company could be valued at around Rs 8,500 crore, they added. The IPO is a mix of fresh issue and an offer-for-sale (OFS) by existing shareholders. In a public announcement on Tuesday, Shadowfax Technologies said it has "pre-filed draft ...Read More >
New Delhi, May 27 (PTI) Quick commerce platform Instamart has dropped parent Swiggy from its name, in a strategic move aimed at carving a standalone brand identity. The move comes days after rival Zomato, which also owns Blinkit, rebranded as Eternal on the stock exchanges, with quick commerce becoming a significant driver for the firms beyond their food delivery businesses. At multiple instances, Swiggy Group CEO Sriharsha Majety has spoken about how the company expects Instamart to surpass f ...Read More >
Mumbai: Following a decline for the fourth consecutive day, shares of online food aggregator Swiggy on Friday slipped below its initial public offering (IPO) issue price of Rs 390. Global financial services company Macquarie has remained the biggest bear on the stock with a target price as low as Rs 325. Swiggy's stock has now fallen nearly 40 per cent from its all-time high of Rs 617 which was reported on December 23, 2024. The continuous decline in stock price has also brought Swiggy's tota ...Read More >
Mumbai, Feb 7 (VOICE) Following a decline for the fourth consecutive day, shares of online food aggregator Swiggy on Friday slipped below its initial public offering (IPO) issue price of Rs 390.According to market experts, the company's shares are dropping due to investors' reaction to the company's higher-than-expected losses in the third quarter (Q3 FY25). After touching a high of Rs 397.65 and a low of Rs 374.8, the stock fell by 2.5 per cent to Rs 379.20 on the BSE during the intra-day trad ...Read More >
New Delhi, Dec 31 (IANS) The year 2024 has been historic for Indian startups as the government abolished the angel tax (a tax levied on investing in startups), which improved Indian startups' funding and enabled them to raise more than $12 billion. Along with this, food delivery company Zomato managed to make its place in the Sensex, the index of top companies in the country. Indian startup companies crossed the magical figure of getting $150 billion in funding in 2024. Between 2014 and 2024, n ...Read More >
New Delhi: Shares of food tech unicorn Zomato plummeted 12 per cent in the morning trade on Tuesday after the food delivery aggregator reported a 57.2 per cent drop in consolidated net profit for the December quarter to Rs 59 crore. The scrip of the company fell 11.81 per cent to Rs 212.50 apiece on the BSE. On the NSE, shares of Gurugram-headquartered Zomato depreciated by 9.99 per cent to hit its lower circuit level of Rs 215.80 per piece. On Monday, shares of Zomato settled more than 3 per ...Read More >
New Delhi, Jan 21 (PTI) Shares of food tech unicorn Zomato plummeted 12 per cent in the morning trade on Tuesday after the food delivery aggregator reported a 57.2 per cent drop in consolidated net profit for the December quarter to ₹59 crore. The scrip of the company fell 11.81 per cent to ₹212.50 apiece on the BSE. On the NSE, shares of Gurugram-headquartered Zomato depreciated by 9.99 per cent to hit its lower circuit level of ₹215.80 per piece. On Monday, shares of Zomato settled more tha ...Read More >
New Delhi: On-demand convenience platform, Swiggy Instamart, has expanded to 76 cities across the nation, and is now available as a standalone app for download, said the company. "As one of Swiggy's flagship services, Instamart will continue to be accessible via Swiggy's unified platform, where it has delivered rapid growth in the past year. The Instamart app provides users an even more direct experience, offering greater convenience by ensuring quicker access to Swiggy's pioneering quick-comme ...Read More >
Quick commerce company Zepto will launch a separate app for Zepto Cafe, its 10-minute food delivery unit, next week, co-founder and CEO Aadit Palicha announced on social media on December 11. While Zepto Cafe will be available through another app, customers will also have an option to shop for coffee, sandwiches and more via the main app. Zepto's move to have two entry points is similar to what Zomato did with Blinkit, the company's quick commerce arm, over a year ago. While Zomato piloted hav ...Read More >
New Delhi, Dec 3 (UNI) In its first results post listing, on-demand convenience platform, Swiggy on Tuesday announced a 30 percent growth in Gross Order Value at Rs 11,306 crore for the quarter and half year ended September 30, 2024. Swiggy's overall Gross Order Value (GOV) grew 30 percent YoY to reach Rs 11306 crore, while the consolidated adjusted EBITDA loss of Rs 341 crore represented a reduction in the loss by 30 percent YoY. Platform Average Monthly Transacting Users (MTU) grew 19.2 perce ...Read More >
Swiggy's quick commerce segment also saw remarkable growth, with revenue surging by 135% to Rs 490 crore in Q2 FY25 from Rs 208 crore in Q2 FY24. Foodtech and quick commerce giant Swiggy has managed a 30.3% quarter-on-quarter growth in its operating revenue which spiked to Rs 3,601 crore during Q2 FY25 as compared to Rs 2,763 crore Q2 FY24. This growth was largely driven by the expansion of its quick commerce businesses which grew 135% in the last quarter. Swiggy's food delivery business conti ...Read More >
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