Swiggy Ltd.
Swiggy
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Mid-cap - With a market cap of ₹887.86 Cr.
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Swiggy was incorporated as ‘Bundl Technologies Private Limited’ as a private limited company under the Companies Act, 1956, pursuant to the certificate of incorporation dated December 26, 2013, issued by the Registrar of Companies, Andhra Pradesh at Hyderabad. Subsequent to a change in its registered office from the state of Andhra Pradesh to the state of Karnataka pursuant to the Board resolution dated November 2, 2015, and the special resolution passed by its Shareholders on December 11, 2015, a fresh certificate of registration dated September 19, 2016, was issued by the Registrar of Companies, Karnataka at Bengaluru. The company changed its name to ‘Swiggy Private Limited’ pursuant to the Board resolution dated January 25, 2024, and the special resolution dated February 19, 2024, further to which a fresh certificate of incorporation dated April 1, 2024 was issued by the RoC, CPC. The company was subsequently converted into a public limited company pursuant to the Board resolution dated February 14, 2024 and special resolution passed by its Shareholders on February 19, 2024 and the name of the company was changed to ‘Swiggy Limited’. A fresh certificate of incorporation dated April 10, 2024 was accordingly issued by the RoC, CPC.
Swiggy is a new-age, consumer-first technology company offering users an easy-to-use convenience platform, accessible through a unified app - to browse, select, order and pay for food (Food Delivery), grocery and household items (Instamart), and have their orders delivered to their doorstep through its on-demand delivery partner network. Its platform can be used to make restaurant reservations (Dineout) and for events bookings (SteppinOut), avail product pick-up/ dropoff services (Genie) and engage in other hyperlocal commerce (Swiggy Minis, among others) activities.
The company augments the value proposition to users through its membership programme called ‘Swiggy One’ providing discounts and offers; in-app payment solutions like digital wallet ‘Swiggy Money’ (a pre-paid payment instrument), ‘Swiggy UPI’, and Swiggy-HDFC Bank credit card for additional benefits. It offers comprehensive business enablement solutions to restaurant partners, merchant partners (that sell grocery and household items on its platform) and brand partners including its alliance partners such as analytics-backed tools to enhance their online presence and user base; fulfilment services for streamlining their supply chain operations; and last-mile delivery.
It caters to users’ needs of ease, immediacy, quality, variety, reliability and consistency in their food, grocery and household items consumption and other hyperlocal commerce needs. Although Food Delivery and Quick Commerce categories in India are large addressable markets that are witnessing rapid online penetration, they are relatively nascent and have high growth headroom. Due to high frequency, habit formation and recall value, these categories have the potential to unlock additional revenue through monetisation of ancillary services. Its experience, execution capability and network of users and partners, together with its innovation-led approach, positions it well to tap into this growing market opportunity.
Business area of the company
The company is a consumer-first technology company offering users an easy-to-use convenience platform - to browse, select, order and pay for food (Food Delivery), grocery and household items (Instamart), and have their orders delivered to their doorstep through on-demand delivery network.
Awards, accreditations, and accolades
History and milestones