Fri Oct 04 23:07:03 UTC 2024: ## Swiggy Aims for Domination with Rs 10,000 Crore IPO, While Online Sales Remain Flat
**Bangalore, India** – Food delivery giant Swiggy is aiming for a major expansion in the quick commerce market with an ambitious Rs 10,000 crore IPO, setting it up as a potential competitor to Zomato. The move signals a fierce battle for dominance in the rapidly growing sector, with Swiggy’s Instamart service leading the charge. Despite currently operating at a loss, Swiggy is confident in its ability to expand and secure market share.
However, concerns have been raised about the potential for a duopoly between Swiggy and Zomato, which could lead to negative consequences for pricing and service quality.
Meanwhile, the first two days of India’s largest online discount sales saw surprisingly flat demand. Smartphone sales dropped by 2-3%, while sales of major appliances like televisions, refrigerators, and washing machines remained stagnant. To boost sales, several brands are increasing discounts as the festival season approaches and salaries are disbursed.
First Piper 