Swiggy is India’s biggest internet-based food requesting and conveyance stage. Established in July 2014, Swiggy is situated in Bangalore and works in 500 Indian urban areas as of September 2021. Aside from food conveyance, Swiggy additionally gives on-request staple conveyances under Instamart and a moment bundle conveyance administration called Swiggy Genie. Bundl Technologies Private Limited works with Swiggy.
Here is lastest news update on Swiggy IPO: Swiggy wants to raise $800 million IPO next year, Read more details here
Swiggy IPO Details
Swiggy IPO details has not been announced yet, but swiggy is preparing for IPO, since recently they raised funding, hence they need to plan accordingly, once they release the IPO Listing date we will update here.
Swiggy IPO Timetable
Below IPO time table shows the IPO event details starting from IPO Open date to IPO Listing date
|IPO Open Date||Yet to be announced|
|IPO Close Date||Yet to be announced|
|Basis of Allotment Date||Yet to be announced|
|Initiation of Refunds||Yet to be announced|
|Credit of Shares to Demat Account||Yet to be announced|
|IPO Listing Date||Yet to be announced|
The two organizers, Sriharsha Majety and Nandan Reddy, planned a web-based business site called Bundl to work with dispatch administration and transportation inside India. The bundle was ended and was rebranded to enter the food conveyance market. At that point, the food conveyance area was in unrest as a few outstanding new businesses, like Foodpanda (later obtained by Ola Cabs), TinyOwl (later procured by Zomato), and Ola Cafe (later shut), were battling. The organization constructed a devoted conveyance organization and developed quickly, essentially determined by the emphasis on operations and securing secret weapons
Swiggy ventured into general item conveyances under Swiggy Stores, obtaining things from nearby stores. In August 2020, the organization dispatched its moment staple conveyance administration called Instamart, utilizing an organization of dull stores. In mid-2021, Swiggy shut Swiggy Stores and extended its activities under Instamart.
In September 2019, Swiggy dispatched moment pickup/dropoff administration Swiggy Go. The assistance is utilized for different exhibits, including clothing, and record or bundle conveyances to business customers and retail clients. In May 2020, Swiggy laid off 1100 workers during the COVID-19 pandemic. In 2021, the organization declared that it would cover the immunization expense for its conveyance accomplices.
- The organization started drawing in outer speculations. The original was a $2 million speculation from Accel and SAIF Partners, alongside extra speculation from Norwest Venture Partners.
- Swiggy got $100 million from China-based Meituan-Dianping and Naspers in 2018, and a series of speculations supported the organization’s valuation to more than $1 billion.
- Swiggy obtained Bangalore-based AI startup Kint.io.
- Swiggy got around $43 million financings which esteemed the organization at $3.6 billion.
- Swiggy obtained Bangalore-based Asian food fire up 48East.
- Swiggy later obtained Mumbai-based Scootsy Logistics, a striving food, and design conveyance administration, and later shut it down.
- It procured the Mumbai-based milk conveyance startup SuprDaily in an all-cash bargain. The organization contributed Rs. 31 crores to Mumbai-based prepared-to-eat food brand Fingerlix.
- Swiggy has cooperated with Burger King to give conveyance administrations.
- It has also collaborated with Google Local Guide to work with client surveys and Sodexo to empower clients to pay through dinner cards.
- Swiggy has cooperated with Indifi Technologies to finance a program for accomplice cafés.
Is Swiggy listed in stock market?
No, Swiggy is not listed yet on stock market, but they are preparing for the same.
What is the Swiggy IPO Date?
Tentative year-2022, Officially IPO details has not been announced yet.
Who is the Swiggy owner?
Sriharsha Majety Nandan Reddy Rahul Jaimini
Is Swiggy in profit or loss?
Currently Swiggy is on loss, if you see the revenue report of Financial year March 2020, loss widened from ₹99.8 crore last year to ₹356 crore this year.