The Indian Railway Catering and Tourism Corporation (IRCTC) has partnered with Swiggy for the delivery of pre-ordered meals booked by passengers through the corporation’s e-catering portal. During the initial stage, Swiggy will provide services to IRCTC customers at four railway stations – Bengaluru, Bhubaneswar, Vijayawada and Visakhapatnam.
Also Read: Swiggy’s GMV reaches $1.43 billion in 1H24; here’s what brokerages say
The services will be expanded to other stations after the completion of the first phase.
“The e-catering service through Bundl Technologies Pvt. Ltd. (Swiggy Foods) may be available soon,” the company said in a BSE filing on Thursday.
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The shares of IRCTC closed 1.04% higher at ₹935.95 per equity share on BSE on Thursday.
Indian Railways’ catering arm is opting for partnerships and tie-ups to expand its services to a larger number of railway stations with a wider range of food options for its customers. A few months ago, IRCTC partnered with the food delivery application Zomato for the supply and delivery of pre-ordered food at different railway stations. At the time of the partnership, announced in October, train passengers can avail of the services at selected stations, including New Delhi, Prayagraj, Kanpur, Lucknow and Varanasi.
The collaboration between Swiggy and IRCTC is expected to boost the business of the food delivery application given the high number of passenger traffic in the country.
Swiggy is preparing to enter the stock market this year. The food delivery application is likely to file its draft red herring prospectus with SEBI for its IPO launch soon. The company is eyeing an $11 billion IPO valuation target. It is expecting to raise an estimated ₹8,300 crore through the IPO in 2024.
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Published: 22 Feb 2024, 06:23 PM IST