Big investors including Norway’s sovereign wealth fund Norges and Fidelity have placed bids worth more than $15 billion in Swiggy‘s India IPO, 25 times the $605 million portion reserved for such investors, four sources told Reuters on Thursday. Swiggy, a SoftBank-backed Indian food and grocery delivery giant, will next week launch its $1.35 billion IPO … Read more
More than 9,000 street food vendors have joined food delivery platforms such as Swiggy and Zomato as part of a Central scheme, making a wider market accessible to them. The total sales by these food vendors on these platforms till January 9, 2023, stood at ₹21.93 crore. Through such partnerships through the Prime Minister Street Vendor’s … Read more
Mumbai: UBS has initiated coverage on Zomato, India’s first listed food delivery platform, with a ‘buy’ rating and a target price of Rs 165, which implies a 24 per cent upside from the current levels. The foreign brokerage sees a long runway for growth in the Indian food delivery space, estimating that will deliver an … Read more