Swiggy, one of India’s top food delivery services, has introduced an ‘International Login’ feature, enabling Non-Resident Indians (NRIs) in the US, Canada, Germany, and the UK to place orders for food, groceries, and gifts for loved ones back home. Available through the Swiggy app, this feature also supports table reservations through Dineout and quick commerce orders via Instamart, Swiggy’s essentials delivery platform.
Phani Kishan, Swiggy’s Co-founder, highlighted, “This feature, long requested by our international users, is launching just in time for the festive season, allowing those abroad to surprise loved ones on special occasions.” Users can complete transactions through international credit cards or UPI, providing flexibility in payment options.
In parallel, Swiggy is gearing up for its initial public offering (IPO) to raise Rs 3,750 crore through a new equity issue, with filings updated at SEBI, India’s market regulator. While Swiggy initially targeted a $15 billion valuation, it has recalibrated to $12.5 billion – $13.5 billion, reducing by 10-16% due to market volatility. This comes as India’s Nifty 50 index appears headed for a fourth consecutive week of declines.
Set to debut on the Mumbai stock exchange on November 13, Swiggy’s IPO subscriptions will open a week prior, aiming to attract investors despite market adjustments. The company remains competitive against Zomato, especially in the quick commerce sector, as both companies race to deliver essentials within minutes.
KEY Highlights:
- Swiggy launches ‘International Login’ for NRIs to order for loved ones in India.
- The feature supports food, grocery, gift delivery, and table reservations.
- Swiggy’s IPO filing estimates valuation at $12.5 billion – $13.5 billion.
