Swiggy Follows Zomato, Hikes Platform Fees To Rs 10

Swiggy hiked its platform fee from Rs 6 per order to Rs 10 on Wednesday after competitor Zomato Ltd. announced the same hike to keep it running amid the festival season sales.

The increased fee helps the platform pay its "bills to keep it running", Zomato said earlier in a notification to customers. "To maintain services during the festive rush, it has increased slightly."

Swiggy is looking to raise over Rs 10,400 crore, of which Rs 3,750 crore is via fresh issue and remaining through offer for sale. Earlier on Oct. 4, the company's shareholders gave their nod to increase the fresh issue component of its initial public offering to Rs 5,000 crore from the current Rs 3,750 crore, according to people aware of the matter.