Hindustan Composites picks up stake in IPO-bound Swiggy; stock surges 9%
The auto ancillary company plans to acquire 1.5 lakh shares, or 0.01% stake, in Swiggy in an all-cash deal worth ₹5.18 crore.
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India's foodservice market set to grow 12% to ₹10 lakh cr by 2030
Online food delivery is poised to rise at a CAGR higher than the industry’s at around 18%, making up for 20% of the overall food services market in 2030, say a study.
'Faster than Swiggy': Zomato stock surges as brokerage cheers growth numbers
Brokerage major CLSA has a ‘BUY’ call on the stock, with a price target of ₹248, an upside potential of 28% from the current levels
Swiggy shareholders approve $1.25 bn fundraising via IPO
Swiggy shareholders pass a special resolution to raise ₹3,750 crore via fresh issue and up to ₹6,664 cr through OFS by shareholders
Swiggy’s Mantra: Wellness & Wealth
Moonlighting policy, gender parity and ESOPs are the key to the food delivery player becoming a sought-after employer.
Food delivery workers' income drops 11% in 3 years
Monthly incomes of long-shift food delivery workers plunged 11% to ₹11,963 in May 2022 from ₹13,470 in 2019
Swiggy's annual losses widen 80% to $545 million
Prosus says its share of Swiggy's losses stood at $180 million
India retains 3rd spot as unicorn hub in 2023; BYJU’s, Swiggy, Dream11 lead
A further 70 unicorns were started by Indian co-founders outside of India, taking the total to 138 unicorns founded by Indians around the world, says Hurun’s Global Unicorn Index 2023
Amid layoffs, Zomato plans to hire 800 people across 5 roles
Zomato CEO Deepinder Goyal says the food ordering company has about 800 job positions open across five roles.
Uber, Dunzo, Ola, PharmEasy score lowest in providing fair conditions to gig workers
In minimum standards of fair work, Urban Company scored the highest 7 out of 10, followed by Bigbasket, Flipkart, Swiggy and Zomato.
