Swiggy Reportedly Plans New Business Ventures Ahead Of Market Debut
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Swiggy is reportedly eyeing venturing into new businesses to diversify beyond its flagship food delivery and quick commerce offerings.

What Happened: The food delivery giant, which is poised to make its market debut this week, is preparing to launch a pilot program for a services marketplace called “Yello”, according to a report by The Economic Times. The platform will offer services from lawyers, therapists, fitness trainers, astrologers and dieticians, the reports said, citing people aware of the matter.

Swiggy has been reaching out to professionals for its services marketplace, “Yello”, and plans to launch a pilot program in select locations soon, the report said.

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The company is also testing a premium membership service called “Rare”, aimed at affluent customers. This service will offer exclusive access to high-end events such as Formula 1 races, music concerts and upscale art exhibitions, as well as VIP hospitality and priority reservations at luxury restaurants.

If it materialises, these offerings will be a stark contrast to Swiggy’s core food delivery business. It is not yet confirmed if the company will launch separate apps for these offerings or club them into its existing app following a super app approach.

The report comes on the heels of Swiggy’s market debut which is expected on November 13. The issue which opened on November 6 is valued at ₹11,327.43 crores.

It comprises a fresh issue of 11.54 crore shares amounting to ₹4,499.00 crore and an offer for sale of 17.51 crore shares aggregating to ₹6,828.43 crores. On its last day of bidding on November 8, the issue was fully subscribed.

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