Food delivery platform, Swiggy, has integrated its online grocery delivery service, Instamart, with its recently launched online shopping platform, Swiggy Instamart Mall. This integration will allow customers to seamlessly access both food delivery and grocery shopping services on the same platform.
Indian food delivery giant Swiggy has recorded a $200 million loss for the nine months to December 2023, according to an internal document. The company, backed by SoftBank, is planning to list on the stock market and could go public by the end of this year.
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Indian food delivery company Swiggy has resumed its IPO planning and is targeting a stock market listing in 2024. The firm, which delivers food and groceries, was valued at $10.7bn in its last funding round in 2022. Swiggy has invited eight investment banks, including Morgan Stanley, JP Morgan and Bank of America, to pitch for work on the IPO. The company is aiming to list between July and September 2024 and is using its last funding round valuation as a benchmark for planning.
