Swiggy Strongly Denies Market Share Loss Claims
Online food delivery and quick commerce giant Swiggy has firmly rejected allegations that its Instamart business is losing ground to competitors in the market share battle. The company issued an official statement through a National Stock Exchange (NSE) filing on 27 November 2025, categorically denying the claims made in a recent media report.
Swiggy described the news portal's report as 'baseless and unreliable' and emphasized that the data presented in the article did not align with original research findings. The company specifically addressed concerns about its Instamart business performance against competitors in the rapidly growing quick commerce sector.
Official Exchange Filing Details
In its formal exchange filing, Swiggy stated: "The data and views referred to in the Article by an unlisted competitor are therefore baseless and unreliable and the Company categorically and strongly denies the content in the said media and that information shared is factually erroneous and misleading."
The food delivery platform alerted its shareholders to exercise caution and rely exclusively on official announcements from the company regarding its business performance and market position.
Redseer Consulting Confirms Data Discrepancy
Swiggy revealed that the controversial media report cited an internal memo from HSBC, which in turn referenced data from market intelligence firm Redseer Consulting and quick commerce player Zepto. However, the company presented crucial evidence challenging the report's credibility.
Swiggy confirmed receiving direct confirmation from Redseer Consulting that the market research firm had not shared any data or analysis with HSBC or the news portal regarding this specific matter. More importantly, Redseer verified that the market share data mentioned in the article did not match their internal research findings.
Nikhil Dalal, Associate Partner at Redseer Consulting, formally clarified: "We would like to formally clarify that no data or analysis was shared by Redseer with HSBC or with (news portal) in relation to this article. We also confirm that the market share data and view mentioned in the article does not match Redseer's internal research."
Article Removed Amid Controversy
The controversy reached a significant resolution when the news portal officially removed the disputed article from its website on 28 November 2025, one day after Swiggy's exchange filing. This action underscores the seriousness of the data accuracy concerns raised by both Swiggy and Redseer Consulting.
The incident highlights the critical importance of verifying market intelligence data and the potential impact of unverified reports on publicly listed companies and their shareholders. It also demonstrates the competitive intensity in India's quick commerce sector, where market share claims frequently become subjects of intense scrutiny.
Swiggy's prompt response and the subsequent removal of the contested article reinforce the company's commitment to transparent communication with its investors and stakeholders in the highly competitive food delivery and quick commerce landscape.
