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Swiggy Instamart Celebrates Ganesh Chaturthi with Free Modak Dispenser in Mumbai

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As Mumbai geared up for the grand celebration of Ganesh Chaturthi, Swiggy Instamart installed a unique modak dispenser on Carter Road to mark the auspicious occasion. The dispenser, operational on September 6th and 7th, offered 1,000 free modaks daily to passersby, dispensing approximately 142 modaks per hour.

The modak dispenser, designed to attract attention, featured an audio sensor that was triggered when a bell was rung. Within five seconds of activation, the dispenser released a single hygienically packed modak in a box. Each box contained a QR code that directed users to Swiggy Instamart’s dedicated Ganesh Chaturthi section on their platform.

Swiggy Instamart’s Ganesh Chaturthi Section

The Ganesh Chaturthi section on Swiggy Instamart offered a wide range of pooja essentials, modak-making kits, assorted modak flavors, and eco-friendly Ganesha idols. Customers could access these items through Swiggy Instamart’s quick delivery service, with items being delivered within 10 minutes.

Collaboration and Social Media Impact

The initiative, a collaboration between Swiggy, Havas Media, and Havas Media Tribes, gained significant attention on social media. The dispenser featured the Marathi phrase ‘Ghanti Vajwa, Mithai Milwa’ (ring the bell, get the sweet), adding a touch of traditional charm to the modern technology.

Swiggy Instamart’s modak dispenser not only celebrated the cultural significance of Ganesh Chaturthi but also served as a strategic promotion for their festive offerings. The initiative exemplified how brands can effectively connect with local traditions and enhance customer experience through innovative approaches.

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Flipkart’s Jeyandran Venugopal Likely to Join Reliance Retail as CEO

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Jeyandran Venugopal, the outgoing Chief Product and Technology Officer of Flipkart, is set to become the CEO of Reliance Retail Ventures (RRV), the retail arm of Reliance Industries. His appointment, expected to be finalized in May after his exit from Flipkart, signals Reliance’s push to strengthen its retail business with a technology-first approach.

Venugopal brings extensive experience from leading roles at Flipkart, Myntra, Yahoo, Snapdeal, and Amazon, where he focused on scaling technology platforms and driving innovation. At Flipkart, he managed product, engineering, data science, and more, helping build robust systems and improve user experience.

His move comes as Reliance Retail undergoes transformation, including cost-cutting and a renewed focus on digital growth. Venugopal’s leadership is expected to accelerate Reliance’s ambitions in omnichannel and tech-driven retail, positioning the company for continued dominance in India’s evolving market.

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Delhivery’s Acquisition of Ecom Express: A Major Consolidation in Indian Logistics

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Delhivery, one of India’s leading logistics companies, has announced its acquisition of Ecom Express in an all-cash deal valued at ₹1,407 crore. This strategic move marks one of the largest consolidations in the logistics sector and is expected to enhance Delhivery’s scale, profitability, and operational efficiency.

Background

Ecom Express, founded in 2012 and headquartered in Gurugram, has faced significant financial challenges recently. The company canceled its IPO plans in 2024 and laid off hundreds of employees due to operational setbacks, including losing a major client, Meesho, which shifted to its in-house logistics service Valmo. These struggles led to a distressed sale, with private equity investors like Warburg Pincus and Partners Group exiting their stakes entirely.

Strategic Benefits for Delhivery

  1. Enhanced Scale: The acquisition will strengthen Delhivery’s network reach and infrastructure, enabling better service delivery across India.
  2. Operational Synergies: Combining operations with Ecom Express will improve efficiency and reduce costs through economies of scale.
  3. Competitive Edge: With Ecom Express as a subsidiary, Delhivery solidifies its leadership position in the logistics space by offering broader coverage and faster services.

Challenges Addressed

The acquisition mitigates risks from Ecom Express’ financial struggles while addressing past disputes between the two companies over inflated shipment volumes reported by Ecom Express during IPO filings.

Future Outlook

The deal is expected to close within six months after regulatory approval from the Competition Commission of India (CCI). Post-acquisition, Ecom Express will operate as a subsidiary of Delhivery, unlocking new growth opportunities such as advanced logistics technology integration and expanded customer reach.

With ₹5,488 crore in cash reserves as of September 2024, Delhivery is well-positioned to finance this acquisition without compromising financial stability. This move underscores Delhivery’s commitment to innovation and efficiency in India’s rapidly evolving logistics landscape.

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Jio Financial Services Introduces Digital Loans Against Securities

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Jio Financial Services, through its NBFC arm Jio Finance Limited, has launched a fully digital Loan Against Securities (LAS) service. This innovative offering allows customers to secure loans up to ₹1 crore against their shares and mutual funds within just 10 minutes via the JioFinance app.

 

Key Features:

  • Digital Process: Entirely online for speed and convenience.
  • Loan Amount: Up to ₹1 crore.
  • Interest Rates: Starting at 9.99%, tailored to individual risk profiles.
  • Tenure: Maximum of three years.
  • No Foreclosure Charges: Flexible repayment options.

Strategic Impact:

The LAS offering aligns with Jio Financial’s broader digital strategy to make financial services more accessible and efficient. It complements existing products like home loans and corporate financing.

Market Response:

Jio Financial Services’ stock rose significantly following the announcement, reflecting investor confidence in the company’s digital expansion. The shares increased by up to 5.5% on the BSE, highlighting the market’s positive reception of this strategic move12.

Leadership Perspective:

Kusal Roy, MD and CEO of Jio Finance Limited, emphasized that this launch is part of a comprehensive digital strategy aimed at transforming customer interactions with financial services1.

Future Prospects:

With its focus on technology and customer convenience, Jio Financial is poised to become a leading player in India’s digital financial services sector.

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