Swiggy Eyes Rs 40-60 Cr Sponsorship Deal For Shark Tank Season 4, Blocks Zomato CEO Deepinder Goyal's Return

Swiggy Pursues Rs 40-60 Crore Shark Tank Sponsorship Ahead of IPO.

Expert Analysis:

• Sponsorship Deal: Swiggy is close to securing a Rs 40-60 crore deal to sponsor the fourth season of Shark Tank India.

• Investor Condition: The sponsorship includes a condition: Zomato Founder and CEO Deepinder Goyal must not return as an investor on the show.

• Rivalry Intensifies: Swiggy's move to sponsor Shark Tank India while blocking Zomato's Goyal highlights the fierce competition as it prepares for its IPO, with Zomato currently leading in the food and grocery delivery markets.

• IPO Plans: Swiggy's recent EGM reveals plans to raise Rs 5000 crore.

• Marketing Allocation: Rs 950 crore is allocated for brand marketing aimed at expanding its customer base ahead of the IPO.