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Swiggy incorporates step-down subsidiary to house its Instamart business
Food and grocery delivery company Swiggy incorporated a new indirect step-down wholly owned subsidiary to house its quick commerce arm, Instamart, according to filings made with the stock exchanges on Tuesday.
The newly formed subsidiary is known as Swiggy Instamart Private Limited.
The Bengaluru-based company's board of directors held a meeting on Tuesday to approve the sale and transfer of its quick commerce business, along with all assets, liabilities, permits, intellectual property (IP), employees, contracts, and other relevant materials to the newly formed subsidiary.
“Instamart has emerged from the shadow of Swiggy's food delivery business to become a standalone brand, with its gross order value and user base slated to exceed the food delivery business in the near future,” said Swiggy's spokesperson in a statement, adding that the platform has seen rapid growth over the past three years.
“The subsidiary structure is designed to support this growth momentum by providing sharper strategic focus, operational flexibility, and enhanced transparency, while ensuring full ownership remains with the listed parent company,” they added.
In January 2025, Swiggy had launched a separate app for its Instamart business, while its main app continued to have a section for Instamart. In May this year, Instamart dropped parent Swiggy from its name in a strategic move to carve a standalone brand identity.
The transfer of assets to the new subsidiary will happen after the third quarter of FY26, but the exact date will be decided by the Board.
Swiggy already has a wholly owned subsidiary, Scootsy, which operates in supply chain services and distribution. In January this year, Swiggy also received the ministry of corporate affairs' (MCA) approval for the incorporation of Swiggy Sports, another wholly owned subsidiary, which will operate in the sports and recreational activities space.
Meanwhile, Swiggy is set to sell its 11.8% stake in urban mobility startup Rapido to Prosus and WestBridge Capital for a total of Rs 2,400 crore. Prosus and WestBridge Capital are existing investors in Rapido.
The transaction values Rapido at Rs 20,330 crore (or around $2.3 billion), which is a sharp increase from its last valuation of $1.1 billion when it raised funds in 2024.
Source: EconomicTimes
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