This service focuses on delivering dishes with minimal or no preparation time from a network of over 40,000 participating restaurants, offering a selection of over 10 lakh items.
To celebrate the occasion, the company also released a light-hearted video that linked the bell-ringing ceremony to the metaphorical significance of “ringing different bells” throughout Swiggy’s delivery process.
Zomato, in a regulatory statement, clarified that the CCI issued a preliminary order on April 4, 2022, mandating the Director General's office to examine possible violations of the Competition Act.
The new appointments of Shalabh Shrivastava as Senior Vice President of Driver Org and Hari Kumar G as Senior Vice President and Chief Business Officer for Swiggy Instamart aim to enhance Swiggy’s operational efficiency and market reach.
Allegations include preferential treatment for specific restaurant partners, which the CCI had deemed worthy of scrutiny after a complaint from the National Restaurant Association of India (NRAI) in April 2022.
High net worth individuals (HNIs) subscribed to 6 percent of their designated portion, retail investors contributed 54 percent, and employees subscribed 74 percent.
The fresh issue size for Swiggy’s IPO has been revised to Rs 4,499 crore, an increase from the previously proposed Rs 3,750 crore, yet still within the board-approved limit of Rs 5,000 crore.
The Swiggy Seal program is part of the company's broader effort to build trust among consumers and help restaurant partners uphold high hygiene standards.