Swiggy's Instamart Market Position: RedSeer Confirms Unpublished Data is Baseless
Swiggy Ltd. has issued a clarification regarding a MoneyControl article published on November 26, which discussed Instamart’s market position and related numbers. The article allegedly quoted data from HSBC, which in turn cited data from Redseer and Zepto. However, RedSeer has confirmed that no data or analysis has been shared with HSBC or MoneyControl. RedSeer also stated that the market share data and view mentioned in the article do not match their internal research, making the information baseless and unreliable. Swiggy has categorically denied the content in the media article, stating that the information shared is factually erroneous and misleading. The company advises shareholders and stakeholders to exercise caution and rely solely on the company’s official statements.
Key Highlights
- Swiggy denies baseless media article regarding Instamart's market position and numbers.
- RedSeer confirms no data was shared with HSBC or MoneyControl.
- RedSeer states the market share data in the article does not match their internal research.
- Swiggy advises shareholders and stakeholders to exercise caution and rely on official statements.
- No unpublished price sensitive information or material events concerning the company's operations or financial performance requiring disclosure under Regulation 30 of the Listing Regulations have been withheld.