Swiggy CEO defends failed IOCC vote, plans revote to unlock Instamart inventory model
Majety dismisses governance concerns after shareholder resolution missed 75% supermajority, citing a 4.6% dissenting stake. Revote planned to enable inventory-led quick commerce. Backed by Rs 10,000 cr QIP, Swiggy pivots from discount-led growth to unit economics as Blinkit and Zepto pressure mounts.
Swiggy CEO Majety defends failed shareholder vote on IOCC amendment, plans revote to enable Instamart inventory model. Dismisses M&A speculation, citing Rs 10,000 crore QIP cash and pivot from discount-led growth toward unit economics amid Blinkit/Zepto competition.