Versuchen GOLD - Frei
₹11K cr IPO in sight, Swiggy projects qcom as the future
Business Standard
|October 31, 2024
Qcom to surpass food delivery biz in 5 yrs, says CEO
On the cusp of launching its ₹11,327 crore initial public offering (IPO) next week, food and grocery delivery major Swiggy believes quick commerce to be its future growth engine and anticipates that it will outpace its core food delivery business over the next five years. Currently, the quick commerce business of Swiggy—backed by Prosus and SoftBank—is 40 percent of the size of its food delivery revenues.
"Quick commerce addresses a far larger total addressable market (TAM) and is growing faster than the food delivery market," said Sriharsha Majety, Swiggy's co-founder and CEO, on the sidelines of an event to announce the IPO. "It is fair to assume that quick commerce will surpass food delivery at some point in the next five years."
If successful, Swiggy's IPO would rank as the second-largest of the year and the sixth-largest in India's history. The offering includes a fresh issue of ₹4,499 crore and a secondary share sale of 175 million shares by existing shareholders.
Opening on November 6, the price range is set at ₹371-390 per share, with a top valuation projected at about ₹87,300 crore behind its listed rival Zomato, currently valued at ₹2.2 trillion.
Diese Geschichte stammt aus der October 31, 2024-Ausgabe von Business Standard.
Abonnieren Sie Magzter GOLD, um auf Tausende kuratierter Premium-Geschichten und über 9.000 Zeitschriften und Zeitungen zuzugreifen.
Sie sind bereits Abonnent? Anmelden
WEITERE GESCHICHTEN VON Business Standard
Business Standard
FinMin in talks with Sebi, RBI on crypto exchanges
The Ministry of Finance (FinMin) is in discussions with the Securities and Exchange Board of India (Sebi) and the Reserve Bank of India (RBI) ahead of the Union Budget 2026-27 to firm up a regulatory framework for crypto exchanges, official sources said.
2 mins
January 14, 2026
Business Standard
Meta to fire 10% of VR unit staffers to focus on AI division
Meta plans to cut around 10 per cent of the employees in its Reality Labs division who work on products including the metaverse, according to three people with knowledge of the discussions, as the company shifts priorities to build next-generation artificial intelligence.
1 min
January 14, 2026
Business Standard
Training citizens out of reality
What use is infinite information if no one can tell truth from performance?
3 mins
January 14, 2026
Business Standard
Work-life balance tops job wish list for India's Gen Z
Infosys co-founder N R Narayana Murthy may still be extolling the virtues of a 72-hour work week. But Gen Z — broadly defined as those born between 1997 and 2012 — appears to be marching to a very different drumbeat: In a latest survey, nearly half of the 23,000 respondents from this age group said that the single most important factor when evaluating a job offer is, quite simply, “work-life balance”.
2 mins
January 14, 2026
Business Standard
German Chancellor visits Bosch campus in Bengaluru
German Chancellor Friedrich Merz's visit to the Bosch campus here on Tuesday underscored the deep economic and technological ties between India and Germany in the areas of mobility, manufacturing and innovation, the company said.
1 min
January 14, 2026
Business Standard
On table: Licence regime for corporate biz correspondents
The Reserve Bank of India (RBI) is likely to consider introducing a licensing regime for corporate business correspondent (BC) channels, a move that would bring currently unregulated fintech companies operating in the segment under the regulator's direct oversight, according to three people familiar with the matter.
2 mins
January 14, 2026
Business Standard
Elie Saab forays into Indian branded residence market with M3M group
ELIE SAAB IS PREPARING TO OPEN ITS FIRST READY-TO-WEAR BOUTIQUE SHOP IN INDIA LATER THIS YEAR
1 mins
January 14, 2026
Business Standard
Govt bonds won't be in Bloomberg Index, for now
Operational, mkt infra issues key reasons; next update by mid-2026
2 mins
January 14, 2026
Business Standard
Building partnerships
German Chancellor's visit raises hopes of EU FTA
2 mins
January 14, 2026
Business Standard
World Bank raises FY27 India growth forecast to 6.5%
‘The World Bank on Tuesday upgraded its FY27 growth forecast for India to 6.5 per cent from 6.3 per cent projected in October last year on the back of firmer domestic demand and export performance, which has proved more resilient than earlier expected.
2 mins
January 14, 2026
Listen
Translate
Change font size