Swiggy has issued a clarification regarding a recent media article by MoneyControl that cited inaccurate data concerning Instamart’s market position. The company asserts that the article’s claims, sourced from an internal HSBC memo quoting Redseer and Zepto, are baseless and unreliable. Swiggy confirms that Redseer has denied sharing any related data with HSBC or MoneyControl, further advising stakeholders to rely solely on official company announcements and caution against misleading information. The company stresses that there is no undisclosed Price Sensitive Information related to the matter.
Response to Media Report
Swiggy has addressed a published article on November 26 by MoneyControl regarding Instamart’s market position, asserting that the information presented is inaccurate. This statement aims to clarify the situation for shareholders and the public.
Disputed Data and Sources
The article cited an internal memo from HSBC that referenced data from Redseer and Zepto. However, Swiggy reports that Redseer has confirmed that no data or analysis concerning the article was shared with HSBC or MoneyControl. Moreover, the market share data and views in the article do not align with Redseer’s internal research.
Company’s Position
Swiggy categorically denies the content of the article, stating that the information shared is factually erroneous and misleading. The company advises shareholders and stakeholders to exercise caution and depend only on official financial announcements for information.
No Undisclosed Information
Swiggy states that there is no Unpublished Price Sensitive Information or material events concerning the company’s operations or financial performance that require disclosure but haven’t been disclosed.
Source: BSE
