Bolt is a fast food delivery service wherein it is going to deliver food from some selected restaurants within 2 km range within 10 minutes. Apparently, the list of available options for delivery also contains burgers, beverages, breakfast items, and biryani – those which can be prepared in the shortest time possible. “Bolt” will, of course, contain ready-to-pack stuff too like ice cream, sweets, and other snacks.
Swiggy, India’s leading food and grocery delivery major, on Tuesday launched its new “Bolt”-an instant 10-minute meal and beverage delivery service. The service has already gone live in key locations of six major cities, including Delhi, Mumbai, Pune, Hyderabad, Chennai, and Bengaluru, and it will soon expand to other regions. “Bolt” offers fast delivery from select restaurants within a 2km radius of the customer. “The service will expand to further areas from next week,” Swiggy said.
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Bolt will concentrate on selling hot beverages, burgers, cold beverages, breakfast items, and biryani with minimal prep time. There will also be a major focus on ready-to-pack dishes like ice cream, sweets and snacks, Swiggy said. Worth knowing, the company does not inform delivery partners about the difference between Bolt and regular orders-meaning no increased incentive or penalty for quicker delivery, a food tech major shared.
He also added that Bolt is the next big evolution in the Swiggy’s Food Marketplace mission to deliver unmatched convenience. “Ten years ago, Swiggy revolutionised food delivery by cutting average wait times to 30 minutes,” said Rohit Kapoor, CEO of Swiggy’s Food Marketplace.
Swiggy submits new draft documents for its IPO. Online food delivery service Swiggy has submitted fresh draft documents to capital markets regulator Sebi as it seeks to make a profit through the sale of shares in its much-awaited initial public offering. The new draft red herring prospectus specifies the scheduled initial public offering, which will also comprise an offer by existing shareholders to sell 18.52 crore equity shares along with a fresh issue of equity shares for Rs 3,750 crore. Market sources value the IPO of the company at more than Rs 10,000 crore.
