Swiggy Eyes Robust Expansion Amid Successful IPO

Food delivery giant Swiggy anticipates significant growth in the next 3-5 years, focusing on expanding its Instamart business and geographical presence. After a successful IPO, Swiggy plans to invest in technology, marketing, and debt repayment, while addressing competition commission concerns over alleged unfair practices.

Swiggy, a dominant player in food delivery and quick-commerce, announced its ambition for robust growth over the next few years, highlighting plans for the expansion of its Instamart business and geographical reach.

Following its successful debut on stock exchanges, Swiggy's CEO Sriharsha Majety affirmed the company's commitment to doubling categories in quick commerce, revealing that Instamart's average delivery time in major cities has been reduced to 12 minutes.

The company raised Rs 11,327 crore through its IPO, garnering attention with a subscription rate of 3.59 times. Funds will facilitate investments in technology advancement, brand marketing, and potential inorganic growth, while addressing a Competition Commission probe into alleged anti-competitive practices.

(With inputs from agencies.)