The 24X7 service will be available in the national capital as well as nearby satellite towns of Gurugram and Noida
The new offering from Swiggy’s stable comes weeks after Flipkart’s new quick commerce arm debuted in Delhi with free delivery for all orders above INR 99
Swiggy recently filed its updated DRHP with SEBI for an IPO that will comprise a fresh issuance of shares worth INR 3,750 Cr and an OFS of 18.53 Cr shares
Ahead of the festive season, quick commerce major Swiggy
Instamart has launched “24×7” delivery service in Delhi NCR.
In a statement, the company said that the service will be available in the national capital as well as nearby satellite towns of Gurugram and Noida.
On the rationale for the new offering, the IPO-bound foodtech major said that its internal “order analysis” revealed that late-night orders for chips, bhujia, and ice creams, sexual wellness products and “pan corner essentials” continue to come between 11 PM and 6 AM during the festive season. It added that mornings see a large number of orders for staples such as milk and eggs.
The new offering comes days after Flipkart debuted its quick commerce service Minutes in the national capital region. In a bid to woo users, the ecommerce juggernaut announced free delivery for all orders above INR 99, besides an INR 5 platform fee.
Besides mounting an effective challenge to Flipkart Minutes and incumbent giants such as Zomato-owned Blinkit and Zepto, Swiggy Instamart is likely looking at cashing in on the festive season, a period when users indulge in heavy purchases.
The development comes at a time when Swiggy is all set to list on the bourses. The foodtech major recently filed its updated draft red herring prospectus (DRHP) with market regulator Securities and Exchange Board of India (SEBI).
The Bengaluru-based decacorn’s IPO will comprise a fresh issuance of shares worth INR 3,750 Cr and an offer for sale (OFS) of 18.53 Cr equity shares.
Meanwhile, on the financial front, Swiggy saw its net loss widen over 7% to INR 605.7 Cr in the first quarter (Q1) of the financial year 2024-25 (FY25) from INR 562.8 Cr in the same quarter last fiscal. Operating revenue surged nearly 35% to INR 3,222.2 Cr during the quarter under review from INR 2,389.8 Cr in Q1 FY24.
