The North News
Amazon India is reportedly in discussions with Swiggy about acquiring a stake in or potentially buying out its quick commerce business, Instamart. This development comes as Swiggy has filed draft papers for a ₹10,414 crore initial public offering (IPO). According to sources cited by the Economic Times, Amazon is interested in either a stake in the pre-IPO placement or a full buyout of Instamart. However, the deal is complex, and early talks may not necessarily lead to a transaction.
One insider noted that Amazon needs to act quickly due to the intricate nature of the deal structure. The report also mentions that Swiggy is unlikely to sell only its quick commerce business, and Amazon, typically not known for minority stakes, may not want to enter the food delivery market where growth is stabilizing. Acquiring the entire Swiggy business, valued at $10-12 billion, would be a significant and expensive move for Amazon.
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