RAHUL BOTHRA
Udaan to acquire Swiggy-owned retail distribution company Lynk Logistics
Udaan is acquiring Swiggy-owned Lynk Logistics in a deal valuing the retail distribution firm at Rs 500 crore. Swiggy will receive a 2.8% stake in Udaan and invest Rs 75 crore for an additional 0.4% stake as part of the transaction.
Minimum wage hikes add to cost pressures for retailers and gig firms ahead of festive season
Companies employing lower-paid and gig workers are facing higher labour costs after more than 15 states raised minimum wages since April, adding pressure ahead of the festive season.
Swiggy Instamart COO Ankit Jain, CBO Hari Kumar quit amid top-level rejig
Quick commerce platform Instamart has seen key leadership departures with COO Ankit Jain and CBO Hari Kumar resigning due to personal reasons. Both executives, formerly of Flipkart, played crucial roles in the quick commerce business. This comes as Swiggy, Instamart's parent company, faces intense competition in the rapidly growing quick commerce sector, with other players aggressively expanding their reach.
Swiggy cofounder Nandan Reddy to leave company
Swiggy cofounder and head of innovation Nandan Reddy will step down from his role and vacate his board seat. Reddy, who cofounded Swiggy with Majety and Rahul Jaimini, is leaving to start his own venture. Jaimini exited the company in May 2020. Addepalli, who previously led Swiggy’s quick commerce vertical Instamart, was elevated to cofounder in July 2021.
Swiggy to appoint two separate heads of finance for Instamart and food delivery
Swiggy is restructuring its organisation and is set to appoint two new vice presidents to oversee finance for Instamart and its food delivery division separately. This move reflects the growth of both arms. It comes amid industry discussions on shifting to an inventory-led model, though Swiggy has no immediate plans for such a change.
EVaaS startup Fyn Mobility raises $2.5 million, eyes global markets
Fyn Mobility, an EV-as-a-service startup based in Chennai, has secured $2.5 million in funding from investors like Vijay Kedia and Swiggy CFO Rahul Bothra. The company intends to utilise the funds to grow its electric vehicle fleet and enhance its technology. Fyn Mobility is also planning to expand into Southeast Asia and is in discussions to raise $10 million for international expansion.
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Swiggy management confident of EBITDA profitability by Q3 FY26
Swiggy aims for EBITDA profitability by Q3 FY26, driven by food delivery growth and quick commerce breakeven. The quick commerce expansion and innovation are expected to sustain robust growth.
Swiggy annual run rate at nearly 1 billion orders: CFO Rahul Bothra
Swiggy which will post its October-December quarter earnings on Wednesday, had clocked 230 million orders in the three-month period ended September 2024. Rahul Bothra was speaking at the annual edtech summit in Delhi organised by Arizona State University, GSV Ventures and Emeritus.
Average Swiggy order value can show double-digit growth every year; no plan to raise fresh funds: Rahul Bothra
Swiggy, with a healthy cash balance of over ₹8,000 crore, has no immediate fundraising plans. Their food delivery business is profitable and generating cash, while the quick commerce segment is projected to achieve profitability within six to seven quarters. They aim to double their dark store footprint by March 2025 and increase average order value at a double-digit pace annually.
Swiggy's market cap crosses Rs 1 lakh crore on debut; shares surge 12%
The company’s market capitalisation has soared past the Rs 1.02 lakh crore mark after the surge. After it opened on November 6, Swiggy’s initial public offering saw a strong demand , with an overall subscription of 3.6 times the shares on offer, largely driven by institutional investors on the final day.
Swiggy at intersection of several high-growth sectors: Swiggy CEO on its Rs 11,000 cr IPO
It’s an incredibly exciting time for us. We’re positioned at the intersection of several high-growth sectors, and we’re looking at not just the next couple of years but one to two decades of growth, leveraging India’s consumption boom
Swiggy management explains why they increased the size of IPO to Rs 4,499 crore and reveals future Q-commerce strategy
Swiggy is raising Rs 4,499 crore through an IPO to invest in its quick commerce business and expand its dark stores. The company plans to open new stores and explore new categories while maintaining focus on food delivery and quick commerce. Swiggy's IPO aims to support its growth trajectory and innovation.
Rahul Bothra appointed Swiggy's first-ever CFO
Till recently with agri-business company Olam International in Singapore and Brazil, Bothra has spent over 15 years in senior finance-based roles at Olam and Britannia
Zomato kicks off grocery deliveries in India amidst Covid-19 lockdown
The aim here is to ensure last-mile delivery of essentials to households in India during the Covid-19 lockdown.
Swiggy raises additional $43 mn as part of ongoing funding round
Along with existing investor Tencent, new investors Ark Impact, Korea Investment Partners, Samsung Ventures and Mirae Asset Capital Markets have participated in the latest fund raise, Swiggy said in a statement.
Buy InterGlobe Aviation, price target Rs 1,526: Kunal Bothra
The analyst suggested a stoploss at Rs 1460.
Buy InterGlobe Aviation, price target Rs 1,540: Kunal Bothra
The analyst suggested a stoploss at Rs 1430.
Buy Indigo, price target Rs 1,400: Kunal Bothra
The analyst suggested a stoploss at Rs 1300.
Buy Indigo, target price Rs 1940: Kunal Bothra
Kunal Bothra recommended to keep a stop loss at Rs 1,835.
Buy InterGlobe Aviation, target Rs 940: Kunal Bothra
Buy InterGlobe Aviation Ltd. at a price target of Rs 940.0 and a stoploss at Rs 865 from entry point.
Swiggy ropes in engineering head from Amazon
Vaz was with Amazon for 11 years, with his most recent role as the director of software engineering.
Buy InterGlobe Aviation, target Rs 1260: Kunal Bothra
Buy InterGlobe Aviation Ltd. at a price target of Rs 1260 and a stop loss at Rs 1200 from entry point.
Buy Bajaj Finance, target Rs 1965: Kunal Bothra
Buy Bajaj Finance Ltd. at a price target of Rs 1965 and a stop loss at Rs 1910 from entry point.
Buy Container Corporation of India, target Rs 1,330: Kunal Bothra
Buy Container Corporation of India Ltd. at a price target of Rs 1330.0 and a stop loss at Rs 1275 from the entry point.
Buy Bajaj Finserv, target Rs 5,350: Kunal Bothra
Buy Bajaj Finserv Ltd. at a price target of Rs 5350.0 and a stop loss at Rs 5020 from entry point.
Buy Container Corporation of India, target Rs 1,500: Kunal Bothra
Buy Container Corporation of India Ltd. at a price target of Rs 1500.0 and a stop loss at Rs 1405 from entry point.
Buy Bajaj Auto, target Rs 3,400: Kunal Bothra
Buy Bajaj Auto at a price target of Rs 3,400 and a stop loss at Rs 3,240 from entry point.
Buy Bajaj Auto, target Rs 3,360: Kunal Bothra
Buy Bajaj Auto at a price target of Rs 3,360 and a stop loss at Rs 3230 from the entry point.
Buy Container Corporation of India, target Rs 1,440: Kunal Bothra
Buy Container Corporation of India at a price target of Rs 1,440 and a stop loss at Rs 1,350 from entry point.
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