IPO-bound food delivery platform Swiggy has launched a bulk ordering service called Swiggy XL EV fleet. The fleet will have electric vehicles, intended to meet large orders at once.
In recent weeks, the fleet has been undergoing a pilot test and was officially launched in Gurugram on Saturday, the day of the State Assembly elections in Haryana.
He drink The fleet of XL electric vehicles has delivered 3,500 meals to election officials at more than 580 polling stations in Gurugram and Badshahpur, according to a Swiggy statement. The delivery service was provided free of cost to the district administration.
“Food delivery services are helping the overall growth of the food and beverage sector in India by driving new consumption occasions, promoting proliferation of offering and enabling expansion of the consumer base,” said Sidharth Bhakoo, director Swiggy Food Market national commercial.
“The festival season is perhaps the best time to launch this service, when there is joy and joy everywhere and everyone celebrates with their loved ones. Swiggy XL will ensure that there are no disruptions to parties and gatherings and no delays in large orders,” he added.
The Swiggy XL EV fleet service will expand to more cities in the coming weeks, according to Bhakoo.
Other features of the service include temperature-controlled compartments and electric fleet.
“More than 1,507 polling stations have been set up in the four constituencies of Gurugram district. It is encouraging to see how young local tech start-ups like Swiggy are recognizing their civic responsibility and supporting and contributing to the electoral process in their own way. I hope they continue to work in the same spirit in future,” said Gurugram deputy commissioner Nishant Kumar Yadav.
Swiggy IPO plans
On September 26, Swiggy filed revised draft documents with the Securities and Exchange Board of India (Sebi) to raise capital through an initial public offering (IPO).
According to the updated draft red herring prospectus-I (UDRHP-I), the IPO will consist of a fresh issue of shares valued at $3,750 crore and sale of 18.52 million shares of existing equity through offer for sale (OFS).
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