Swiggy to sponsor Shark Tank Season 4; Zomato CEO departs from the show

A significant development has unfolded in the Indian food delivery market, as Swiggy prepares to sponsor the fourth season of Shark Tank India, a popular business reality TV show. Notably, Zomato's CEO, Deepinder Goyal, who was a judge in the last season, has announced his departure from the show, because of  Swiggy's sponsorship worth INR 25 crore.

Swiggy, has filed an updated draft prospectus with the Securities and Exchange Board of India (SEBI), paving the way for its initial public offering (IPO) by year-end. It is going to allocate Rs 1000 crore for brand marketing over four years with estimated net proceeds of Rs 929.5 crore for brand marketing and business promotion until FY2028 - Breakdown: Rs 61.5 crore (FY2025), Rs 239 crore (FY2026), Rs 266 crore (FY2027), Rs 363 crore (FY2028).