Swiggy steps up quick commerce investment to Rs 1,179 crore, eyes 741 dark stores
Swiggy is increasing its investment in its quick-commerce business, Swiggy Instamart to Rs 1,179 crore, up 20% from Rs 982 crore mentioned in the red herring prospectus filed on Tuesday.
The Bengaluru-based company said it plans to invest Rs 755.4 crore to expand its dark store network, with an additional Rs 423.3 crore for lease and licensing payments for these stores or warehouses.
Swiggy Instamart has around 557 dark stores as of June 30 and plans to now take it to 741 compared to earlier plan of 538 per the draft red herring prospectus in September.
“We propose to open dark stores in the cities in which our existing dark stores operate, such as Mumbai and Pune in Maharashtra, Bengaluru in Karnataka, Chennai in Tamil Nadu, Hyderabad in Telangana, New Delhi in Delhi and Kolkata in West Bengal as well as in new cities we may choose to expand our quick commerce business in the future,” it said.
Office Productivity
Advanced Excel Course — Financial Calculations & Excel Made Easy
By — Anirudh Saraf, Founder- Saraf A & Associates, Chartered Accountant
Web Development
Intermediate Java Mastery: Method, Collections, and Beyond
By — Metla Sudha Sekhar, IT Specialist and Developer
Artificial Intelligence(AI)
ChatGPT Mastery from Zero to Hero: The Complete AI Course
By — Metla Sudha Sekhar, IT Specialist and Developer
Data Science
MySQL for Beginners: Learn Data Science and Analytics Skills
By — Metla Sudha Sekhar, IT Specialist and Developer
Artificial Intelligence(AI)
AI-Powered Python Mastery with Tabnine: Boost Your Coding
