Instamart Archives - GenixPlay Studios

Swiggy, 2024’s biggest tech listing, falls below its IPO price and 2022 valuation

Indian food delivery company Swiggy’s stock fell below both its IPO price and its last private valuation as mounting losses and a wavering market position in quick commerce pressured its margins in the last quarter. The food delivery company’s stock fell as low as ₹374.80 ($4.29) on Thursday below its November IPO price of ₹390, […]

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India’s Zomato to rebrand as Eternal

Commerce / Sasandara Dilmina

Indian food delivery group Zomato plans to rename itself as Eternal, a strategic shift as its quick commerce unit Blinkit becomes a significant driver of future growth. The Gurugram-based company, which joined India’s benchmark BSE Sensex in December, said on Thursday the name change would better reflect its expanding business portfolio that includes quick commerce

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Zomato’s quick commerce business now more valuable than its food delivery, says Goldman Sachs

Market Analysis / Sasandara Dilmina

Goldman Sachs said in a report late Thursday that Indian food delivery giant Zomato’s quick commerce arm Blinkit is now more valuable than its core food delivery business, as per the bank’s sum-of-the-parts analysis. The investment bank estimates Blinkit’s implied value at 119 Indian rupees per share ($1.43) or about $13 billion, while Zomato’s food

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