The Latest Breaking News from Swiggy

ETtech Interview | Quick commerce industry unlikely to sustain as many players as today: Swiggy's Sriharsha Majety

Swiggy CEO Sriharsha Majety believes the quick commerce market is overpopulated and prioritises long-term economics over market share battles. He addressed recent shareholder concerns regarding board appointment rights, emphasising its link to the company's Indian Owned and Controlled Company (IOCC) status.

The Economic Times · May 28

Swiggy CEO on failed shareholder vote; Indian firms brace for Mythos

Happy Thursday! Swiggy group CEO Sriharsha Majety opened up about the recent hitch to become an Indian-owned company. This and more in today's ETtech Morning Dispatch.

The Economic Times · May 28

Swiggy CEO Sriharsha Majety vows to stay out of Amazon-Ambani spending war

Swiggy is prioritizing profitability over rapid expansion. The company will not match rivals like Flipkart and Reliance Retail's aggressive delivery speed and discount strategies. Swiggy's CEO believes this approach will retain loyal customers. This decision comes amid intense competition in India's fast-growing quick commerce sector. Investors are seeking a clear…

The Economic Times · May 28

ETtech Explainer: How Swiggy’s failed bid to become an Indian firm matters for Instamart

Swiggy's bid to become an Indian-owned-and-controlled company (IOCC) has been delayed after shareholders failed to approve changes to its articles of association. This governance reset was crucial for its Instamart unit to gain inventory flexibility and improve margins, a strategy that benefited rival Eternal.

The Economic Times · May 22

IT sector a contrarian opportunity at current valuations: Aditya Shah

Aditya Shah of Hercules Advisors identifies power, banking, chemicals, and real estate as promising sectors for long-term growth amidst global uncertainty. While cautious on EMS due to valuations, he sees potential in quick commerce players demonstrating disciplined execution and profitability, favoring Blinkit currently.

The Economic Times · May 22

Swiggy’s shareholder setback; Walmart’s Flipkart push

Happy Friday! Swiggy’s move to become an Indian-owned company hit a setback after the shareholder vote fell short. This and more in today’s ETtech Morning Dispatch.

The Economic Times · May 22

Swiggy fails to clear shareholder hurdle in bid to recast itself as Indian-owned company

In an exchange filing on Thursday, Swiggy stated that its resolution on the Amendment of Articles of Association received 72.36 per cent votes of shareholders, falling short of the required threshold by 2.65 per cent.

The Economic Times · May 21

Your Swiggy, Zomato orders may get costlier as fuel prices rise

Fuel price hikes may impact food delivery and quick commerce firms Eternal and Swiggy. Elara Capital reports a manageable near-term cost pressure. Gig workers might seek higher payouts. The impact on earnings is expected to stay under control. Companies may share the burden through customer charges, absorption, and delivery partner…

The Economic Times · May 20

Board nomination framework changes part of effort to achieve Indian-owned company status: Swiggy

Swiggy has announced upcoming adjustments to its board nomination policies as part of its strategy to establish itself as an Indian owned and controlled company. This initiative is designed to align with foreign exchange compliance requirements.

The Economic Times · May 13

SoftBank logs $600 million paper loss on India-listed portfolio in March quarter

SoftBank's Indian investments faced a significant downturn in the January-March quarter. Several prominent companies like Swiggy and Ola Electric saw their market value drop. This led to substantial paper losses for SoftBank's Vision Fund. Despite overall gains from other investments, the Indian portfolio's performance highlights recent market challenges. SoftBank has…

The Economic Times · May 13