Saturday, December 20, 2025
Home Blog Page 218

Swiggy makes strong market debut, surges 16.91% above IPO price

By
Ashutosh Dubey
-
0
Image of swiggy IPO
Swiggy makes strong market debut, surges 16.91% above IPO price

Foodtech major Swiggy‘s shares closed at INR 455.95 on the BSE, a 16.91% increase from its IPO price of INR 390. The stock listed at INR 412, a 5.6% premium, and reached an intraday high of INR 465.30.

Swiggy’s market capitalization at INR 1.02 lakh Cr

Notably, the company’s market capitalization stood at INR 1.02 lakh crore ($12.09 billion), with over 11.29 crore shares traded. In contrast, rival Zomato‘s market capitalization was INR 2.28 lakh crore ($27.07 billion), with its shares ending 0.9% lower at INR 258.55.

Continue Exploring: JM Financial initiates coverage on Swiggy with ‘Buy’ recommendation

Meanwhile, Brokerage firm JM Financial initiated coverage on Swiggy with a ‘buy’ recommendation and a price target of INR 470, citing the company’s duopoly structure in the food delivery market. “While India’s online food delivery market is likely to grow at a healthy CAGR of ~20% in the foreseeable future, the odds of disruption by new competition appear miniscule today,” JM Financial stated.

Further the firm highlighted Instamart’s growth potential, noting that the quick commerce market is essentially a play on the broader retail market, valued at $1 trillion in 2022.

Swiggy’s IPO oversubscribed by 3.59 times

Earlier, Swiggy’s IPO was oversubscribed 3.59 times, with qualified institutional buyers subscribing 6.02 times and retail individual investors subscribing 114%. The IPO comprised a fresh issue of INR 4,999 crore and an offer for sale of 17.5 crore shares.

Continue Exploring: Global investment firm Prosus earns $2 Bn from Swiggy’s IPO

For now, the successful IPO resulted in approximately 500 Swiggy employees joining the ‘crorepati’ club. With its strong market debut, Swiggy is poised for continued growth in the food delivery and quick commerce markets.

Advertisement

Cantabil Retail India reports INR 151.2 crore revenue for Q2, eyes expansion

By
Ashutosh Dubey
-
0
Image of cantabil
Cantabil Retail India reports INR 151.2 crore revenue for Q2, eyes expansion

Cantabil Retail India Ltd has announced its financial results for the second quarter ending September 30, 2024, showcasing impressive growth despite challenging market conditions. The company reported revenue of INR 151.2 crore and a net profit of INR 6.6 crore for Q2.

Canatabil registers 13% YoY growth with PAT INR 18 Cr

For the six months ending on the same date, Cantabil’s revenue reached INR 279.1 crore, representing a 13% year-over-year growth, with a profit after tax (PAT) of INR 18 crore. The company’s EBITDA rose by 16% year-over-year, totaling INR 73.9 crore for the half-year period.

Continue Exploring: Nykaa appoints former Cars24 South East head as EVP for fashion arm

“We are pleased to report a robust beginning to FY25, with our Company achieving an impressive 29.4 percent volume growth in H1 FY25,” said Vijay Bansal, Chairman and MD of Cantabil Retail India Limited. “Notably, this success was accomplished despite challenging market conditions and adverse weather conditions.”

Cantabil to operate 23 new stores bringing store count to 550

Notably, Cantabil has expanded its retail presence by opening 23 new exclusive stores across various states, bringing its store count to over 550 nationwide. This growth highlights the company’s strategy to expand its footprint in both offline and online channels.

Continue Exploring: Nykaa targets 2-hour delivery for key products, moves from 10-minute model

Bansal outlined the company’s strategic focus on enhancing customer access and brand presence. “Our strategic agenda is focused on enhancing customer convenience, reinforcing our brand promise, and driving growth through expanded reach, bringing us closer to customers; entry into newer markets; diversification across segments and categories and elevating the shopping experience.”

Looking ahead, Cantabil anticipates an improvement in consumer spending driven by the festive and wedding seasons, coupled with a favourable economic environment. “The combination of above-normal monsoons, festive season, and wedding season is expected to drive improvement in discretionary spending,” Bansal noted.

The company aims to capitalise on emerging opportunities in India’s fashion retail sector by expanding its store network and strengthening its market presence. “We are committed to shifting gears, capitalising on emerging opportunities, and solidifying our position as a leader in the fashion apparel sector,” Bansal concluded.

Advertisement

‘We are expecting solid growth for 3-5 years’ – Swiggy CEO after successful listing

By
Ashutosh Dubey
-
0
Image of swiggy ceo
We are expecting solid growth for 3-5 years’ - Swiggy CEO after successful listing

Swiggy announced on Wednesday, November 13 that it expects strong growth in the next 3-5 years. The company plans to expand its geographical reach and store network for its Instamart business.

Swiggy doubles no. of quick commerce categories in 1 year

Following its successful stock market debut, Swiggy also revealed that it has doubled the number of quick commerce categories over the past year.

Continue Exploring: JM Financial initiates coverage on Swiggy with ‘Buy’ recommendation

“We are expecting very solid growth for the next 3-5 years. We are expanding our geographical footprint, stores network for Instamart business,” Swiggy CEO Sriharsha Majety said after the stock market listing ceremony, according to Economic Times.

Notably, the food delivery and quick-commerce major made a strong debut on the stock exchanges, listing at INR 412, a 5.64% jump from the issue price. The company’s INR 11,327-crore initial public offer (IPO) was fully subscribed, ending with 3.59 times subscription. Key highlights of the IPO include a listing price of INR 412, 5.64% above the issue price, and a 15.12% surge to INR 449 apiece.

Swiggy reduces delivery time to 12 minutes in cities

Furthermore, Swiggy plans to utilise IPO proceeds for technology, brand marketing, debt payment, and inorganic growth. The company will also invest in various categories, with a focus on Instamart. Instamart’s average delivery time has reduced from 17 minutes to 12 minutes in big cities. Additionally, Swiggy plans to open larger dark stores, up to 8,000-10,000 sq ft.

Continue Exploring: Global investment firm Prosus earns $2 Bn from Swiggy’s IPO

Meanwhile, Majety emphasised, “We will continue to invest in various categories.” On the reported Competition Commission of India (CCI) probe into anti-competition practices, he stated, “We are following laws and practices with complete compliance.”

The CCI probe allegedly found unfair business practices, including preferential treatment to some restaurant partners, by food delivery platforms Zomato and Swiggy.

Advertisement

Nykaa rewards employees with 1.8 lakh equity shares under ESOP, following 66.3% jump

By
Ashutosh Dubey
-
0
Image of nykaa ceo
Nykaa rewards employees with 1.8 lakh equity shares under ESOP, following 66.3% jump

Nykaa, direct-to-consumer beauty and fashion ecommerce platform, has allotted 1.8 lakh equity shares to its employees under the Employee Stock Option Plan (ESOP), following an impressive 66.3% jump in consolidated net profit to INR 12.97 crore in the second quarter of FY25.

The equity shares so allotted, shall rank pari-passu – Nykaa

“…The equity shares so allotted, shall rank pari-passu with the existing equity shares of the Company in all respects,” Nykaa stated in a filing, according to INC42. However, the company has not disclosed the change in its paid-up capital.

Continue Exploring: Nykaa targets 2-hour delivery for key products, moves from 10-minute model

Notably, Nykaa’s employee benefit expenses rose by 18.5% to INR 161.49 crore in Q2 FY25, demonstrating its commitment to rewarding its workforce. This investment in employees has contributed to the company’s growth, with revenue from operations jumping 24.4% to INR 1,874.74 crore.

JM Financial maintains “buy” recommendation for Nykaa

Meanwhile, Brokerage firm JM Financial maintained its “buy” recommendation for Nykaa, citing the company’s ability to overcome “unfavourable demand environment” and deliver growth, with a target price of INR 250. However, Bernstein adopted a more cautious approach, maintaining its “market-perform” rating and highlighting an 8.6% decline in Nykaa’s EBIDTA margin, with a target price of INR 165.

Continue Exploring: Sugar Cosmetics crosses INR 500 Cr revenue, registers 20% YoY

Further, Nykaa’s revenue breakdown reveals a strong performance in the beauty and personal care segment, with a 24.3% year-on-year jump to INR 1,702.89 crore. The fashion vertical also showed promise, posting a 21.7% revenue surge to INR 166.10 crore.

In addition, the company’s overall expenses rose by 23.7% year-on-year (YoY) and 7.3% quarter-on-quarter to INR 1,858.93 crore, primarily attributed to purchase of traded goods, employee benefit expenses, and marketing.

Advertisement

Nazara Technologies partners with ONDC to launch g-Commerce, allows in-gaming purchase

By
Ashutosh Dubey
-
0
Image of ONDC
Nazara Technologies partners with ONDC to launch g-Commerce, allows in-gaming purchase

Nazara Technologies has collaborated with Open Network for Digital Commerce (ONDC) to launch gCommerce, a revolutionary in-game monetization platform.

G-commerce to integrate e-commerce with gaming

This innovative platform integrates e-commerce within gaming experiences, addressing the long-standing challenge of low in-app purchase conversion rates and limited ad revenue for Indian game developers.

Continue Exploring: Zomato welcomes Swiggy for stock market debut: “You and I… In this beautiful world”

“The integration aims to address a persistent challenge for Indian game developers: low in-app purchase (IAP) conversion rates and poor yields from advertising,” Nazara Technologies stated, according to Economic Times. “Through gCommerce, Nazara and ONDC Network are reimagining game monetization by leveraging India’s thriving e-commerce landscape and providing developers with new, scalable revenue streams.”

Key highlights of this partnership include the platform’s ability to allow developers to earn through an affiliate revenue-sharing model, collecting commissions on transactions initiated by players, and linking to ONDC’s vast e-commerce network. Additionally, players can browse and shop without interrupting their gaming experience, across over 10 categories.

G-commerce to roll out by 2025

Meanwhile, the gCommerce platform is currently in its soft launch phase and is expected to roll out for game developers by Q1, FY26. This launch is poised to revolutionise game monetization in India. Nazara Tech shares were trading at INR 897.35 apiece on the BSE, up 1.74% during the day’s trade.

Continue Exploring: Meesho registers reduction in net loss by 81.8% to INR 304.9 Cr in FY24

“We are excited to announce the upcoming launch of gCommerce by Nazara via integration with the ONDC Network, as it represents a significant step forward in our mission to empower game developers with effective and innovative monetization solutions,” said Nitish Mittersain, CEO of Nazara Technologies.

Further, T Koshy, CEO of ONDC, added, “By bringing e-commerce into the gaming ecosystem, we are paving the way for a seamless blend of entertainment and shopping that adds value for players, developers, and the broader digital commerce network.”

By providing new revenue streams and enriching the gaming experience, Nazara Technologies and ONDC are poised to make a significant impact on the Indian gaming industry. “We are not only creating new revenue opportunities for developers but also enriching the overall experience for our gamers,” Mittersain said.

Advertisement

Nykaa appoints former Cars24 South East head as EVP for fashion arm

By
Ashutosh Dubey
-
0
Image of Abhijeet Dabas with nykaa
Nykaa appoints former Cars24 South East head as EVP for fashion arm

Nykaa, the beauty and fashion ecommerce major, has appointed Abhijeet Dabas as Executive Vice President and Business Head for its fashion segment. Dabas joins Nykaa from Cars24, where he served as South East Asia head.

Abhijeet’s leadership will be instrumental in our growth – Falguni Nayar

“As we continue to revolutionise the fashion e-commerce experience for Indian consumers, Abhijeet’s leadership will be instrumental in driving our growth strategy and strengthening our market position,” said Falguni Nayar, Nykaa’s CEO, according to INC42.

Continue Exploring: JM Financial initiates coverage on Swiggy with ‘Buy’ recommendation

Notably, Dabas brings over a decade of experience, having worked at Swiggy, Myntra, and McKinsey & Company. His role at Nykaa will focus on boosting online growth, expanding global footprint, and building strategic partnerships.

Meanwhile, the appointment follows Nykaa’s impressive Q2 FY25 financial performance, where consolidated net profit surged by 66.3% to INR 12.97 crore and revenue from operations grew by 24.4% to INR 1,874.74 crore.

Nykaa targets 2-hour delivery, moves from 10-minute model

Further, Nykaa is enhancing its delivery options, aiming for 30-minute to 2-hour delivery for select beauty products. The company boasts same-day and next-day delivery logistics that cover 80% of deliveries in the top 12 cities and 70% coverage in the top 110 cities.

Continue Exploring: Global investment firm Prosus earns $2 Bn from Swiggy’s IPO

On November 13, Nykaa allotted 1.80 lakh equity shares to employees under its Employee Stock Option Plan.

At 2:52 PM, Nykaa shares traded at INR 170.80 apiece on the BSE, 3.86% lower than the previous close.

Advertisement

Zomato’s Quick Commerce arm Blinkit pilots large order fleet

By
Ashutosh Dubey
-
0
Image of blinkit
Zomato's Quick Commerce arm Blinkit pilots large order fleet

Blinkit, the quick commerce arm of Zomato, has begun testing a large order fleet in the Delhi NCR region. This development comes after Zomato launched a large order fleet for food delivery in April.

Blinkit to expand product offerings in electronics

The large order fleet will enable customers to order larger products, such as geysers, air purifiers, or gaming consoles like PlayStation 5. This move could indicate Blinkit’s plans to expand its product offerings, particularly in consumer electronics, boosting its revenue, as per INC42.

Continue Exploring: Global investment firm Prosus earns $2 Bn from Swiggy’s IPO

However, the company’s focus on Blinkit is evident, especially after raising $1 billion from qualified institutional investors (QIB) to strengthen its position amidst intense competition from Swiggy and Zepto.

Notably, Blinkit needs to keep innovating to retain its 40% market share in the highly competitive quick commerce space according to industry experts. Recent entrants, including Flipkart‘s Minute, BigBasket, and Nykaa, have increased competition.

Blinkit introduces EMI for large order, 10-minute delivery for photos

To stay ahead, Blinkit has launched several initiatives, including EMI options for larger order values, the Blinkit Seller Hub to assist brands in listing and selling products, and a 10-minute delivery service for passport photos in the Delhi NCR region.

Continue Exploring: Zomato welcomes Swiggy for stock market debut: “You and I… In this beautiful world”

According to Zomato’s Q2 FY25 earnings report, Blinkit reported a revenue of INR 1,156 crore, which is double the INR 505 crore from the previous year. They also saw a 23% quarter-over-quarter revenue growth, rising from INR 942 crore. Additionally, Blinkit significantly reduced its adjusted EBITDA loss to INR 8 crore from INR 125 crore year-over-year (YoY).

Meanwhile, Swiggy, which raised $1.3 billion via IPO, and Zepto, which secured nearly $1 billion in funding, are key competitors in the quick commerce space.

Advertisement

JM Financial initiates coverage on Swiggy with ‘Buy’ recommendation

By
Ashutosh Dubey
-
0
Image of swiggy
JM Financial initiates coverage on Swiggy with 'Buy' recommendation

Brokerage firm JM Financial has initiated coverage on foodtech major Swiggy, giving it a ‘buy’ recommendation and setting a price target of INR 470, representing a potential 20% upside from its IPO’s upper price band of INR 390.

On November 13, Swiggy made its stock market debut at an 8% premium, listing at INR 420 on the NSE and INR 412 on the BSE. Shares later surged 14% to INR 445.20.

Continue Exploring: Godrej industries to acquire Savannah Surfactants for INR 76 Cr

India’s online food delivery market to grow at CAGR of ~20% – JM Financial

“India’s online food delivery market is likely to grow at a healthy CAGR of ~20% in the foreseeable future, and the odds of disruption by new competition appear miniscule today,” JM Financial stated, according to INC42.

However, the brokerage firm highlighted Swiggy’s duopoly structure in food delivery, ensuring steady growth and profits. Additionally, it noted immense growth potential in Instamart, Swiggy’s quick commerce platform.

“We estimate Instamart was only behind Blinkit as of FY24, with a market share of ~28%… Even assuming QC channel penetration reaches only 1.5-2% over the next 5 years, the market can expand at >50% CAGR,” JM Financial added.

Continue Exploring: Bhartia Family, Goldman Sachs in talks for 40% stake in Hindustan Coca-Cola Beverages

Swiggy pilots services marketplace ‘Yello’

Notably, Swiggy’s expansion plans include piloting a services marketplace called ‘Yello’ and launching Rare Life, a concierge service for high-net-worth individuals.

Meanwhile, the company’s IPO was oversubscribed 3.59 times, receiving bids for 57.53 crore shares. Qualified institutional buyers’ portion attracted 6.02 times subscription, while retail individual investors subscribed 114% and non-institutional investors 41%.

Moving forward, the company’s early backers Accel India and Elevation Capital are set to pocket over 34 times returns by partially exiting their stakes.

Advertisement

Global investment firm Prosus earns $2 Bn from Swiggy’s IPO

By
Ashutosh Dubey
-
0
Image of swiggy IPO
Global investment firm Prosus earns $2 Bn from Swiggy's IPO

Global investment giant Prosus has reaped a whopping $2 billion from its investment in foodtech major Swiggy, which made its stock market debut on November 13 at a valuation of $11.3 billion.

Prosus sells shares worth $500 Mn as part of IPO

According to INC42, Prosus, Swiggy’s largest shareholder, sold shares worth $500 million as part of the initial public offering (IPO), earning over 3X returns on its investment.

Continue Exploring: Godrej industries to acquire Savannah Surfactants for INR 76 Cr

“Swiggy is on a strong growth trajectory as a public company, having diversified into new categories and expanded into new cities,” said Fabricio Bloisi, CEO of Prosus. “India remains a key growth market for Prosus, given the country’s impressive digital transformation in the consumer and enterprise sectors.”

Prosus retains 25% stake in Swiggy

However, Prosus has retained a 25% stake in Swiggy following the IPO. The company has invested over $7 billion in Indian startups, including Swiggy, Meesho, PharmEasy, and Urban Company.

Continue Exploring: Zomato welcomes Swiggy for stock market debut: “You and I… In this beautiful world”

Meanwhile, Swiggy’s IPO listing price was INR 420, an 8% premium on the National Stock Exchange (NSE), compared to its issue price of INR 390 per share. Early backers Accel India and Elevation Capital are set to make over 34X returns by selling a portion of their stake.

Notably, the company’s public debut comes amidst intense competition in the food delivery and quick commerce segments from rivals Zomato and Zepto, as well as newcomers Reliance Retail and Flipkart.

“We are excited about the region and see huge opportunities for value creation, including a strong IPO pipeline within our current portfolio,” added Bloisi.

Advertisement

Godrej industries to acquire Savannah Surfactants for INR 76 Cr

By
Ashutosh Dubey
-
0
Image of godrej product
Godrej industries to acquire Savannah Surfactants for INR 76 Cr

Godrej Industries announced to buy Savannah Surfactants Limited’s food additives and emulsifier business for INR 76 crore. In a regulatory filing on Tuesday, Godrej Industries stated they have signed a ‘Business Transfer Agreement’ with Savannah Surfactants Limited (Goa) to acquire this part of their business.

Savannah Surfactants produces 5,200 tonnes of additives & emulsifier

According to ET Retail, the deal is worth about INR 76 crore. Godrej Industries said, “As a leader in oleochemicals, surfactants, specialties, and biotech, this deal will help us expand our products for the Food & Beverages segment.” Savannah Surfactants Ltd, based in Goa, can produce 5,200 tonnes of finished products per year.

Continue Exploring: Bhartia Family, Goldman Sachs in talks for 40% stake in Hindustan Coca-Cola Beverages

Further, Vishal Sharma, Executive Director and CEO of Godrej Industries (Chemicals), said, “In line with our strategy, the acquisition of this unit in the food ester and emulsifier business will help us to grow our speciality chemicals business. This acquisition is aligned with our commitment towards sustainable growth and innovation.” Meanwhile, the industry is one of the group’s oldest businesses, established in 1963.

Notably, the company has two manufacturing locations in Maharashtra and Gujarat, as well as an R&D centre in India. It operates in several segments including home and personal care, oil and gas, agrochemicals, pharmaceuticals, rubber, chemical and polymer intermediaries, and lubricants and metalworking fluids.

Advertisement
1...217218219...1,378Page 218 of 1,378