IPO-bound food delivery platform Swiggy has launched a bulk order service called the Swiggy XL EV fleet. The fleet will have electric vehicles, which are aimed to serve large orders at one go.
In the last few weeks, the fleet has been going through a pilot run and was officially launched in Gurugram on Saturday, the day of State Assembly elections in Haryana.
The Swiggy XL EV fleet has delivered 3500 meals to electoral officials at over 580 polling booths in Gurugram and Badshahpur constituencies, according to a release by Swiggy. The delivery service was provided free of cost to the district administration.
“The food delivery services are helping in the overall growth of the F&B sector in India by driving new consumption occasions, promoting supply proliferation and enabling expansion of consumer base,” Sidharth Bhakoo, National Business Head of Swiggy Food Market place, said.
“The festival season is perhaps the best time to launch this service, when there is gaiety and joy all around, and everyone celebrates with their loved ones. Swiggy XL will ensure that there is no interruption in parties and gatherings and no delay in large orders,” he added.
The Swiggy XL EV fleet service will be expanded to more cities in the coming weeks, according to Bhakoo.
Other features of the service include temperature-controlled compartments and electric-powered fleet.
“More than 1507 polling stations were setup in the four constituencies in the Gurugram district. It is heartening to see young homegrown tech start-up companies such as Swiggy, recognise their citizen responsibility and support and contribute to the electoral process in their way. I hope they continue to work in the same spirit in times to come,” Gurugram Deputy Commissioner, Nishant Kumar Yadav said.
Swiggy IPO plans
On September 26, Swiggy filed revised draft documents to 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 new issuance of equity shares valued at ₹3,750 crore and the sale of 18.52 crore existing shareholders’ equity shares through an offer-for-sale (OFS).
