Swiggy Instamart taps Flipkart veteran Kanika Tiwari as Head of Monetization
Previously, Tiwari served as Director of Strategy and Growth at Flipkart Ads, following her tenure as Associate Director of Growth and Partnership in the same division.
Swiggy Instamart has appointed Kanika Tiwari as its new Head of Monetization, marking a strategic move to bolster its growth initiatives.
Kanika will transition to Swiggy from Flipkart, where she has spent over eight years in various leadership roles. Previously, she served as Director of Strategy and Growth at Flipkart Ads, following her tenure as Associate Director of Growth and Partnership in the same division.
"I want to thank Flipkart for the opportunities and experiences gained during my tenure. I am grateful to all the leaders I got to work with, who helped me become the professional I am today. Looking forward to this new chapter and contributing to Swiggy's success," Tiwari said in a LinkedIn post.
Swiggy also recently appointed Supriya Shankar as Vice President of Events and Experience. Shankar, who previously served as CEO - Singapore and SVP - Growth and Expansion SEA at Lenskart, brings 14 years of expertise in internet commerce with a focus on growth, expansion, and P&L management. Her career history includes leadership roles at Lenskart, Airtel, Zomato, and OYO, where she managed global marketing, sales, and operations.
The announcement follows Swiggy’s other leadership hires, including Shalabh Shrivastava as Senior Vice President of the Driver Organisation and Hari Kumar G as Senior Vice President and Chief Business Officer for Swiggy Instamart. These appointments are aimed towards driving growth and enhance service quality across Swiggy’s key segments.
Swiggy made its stock market debut with a strong showing on both major Indian exchanges. The food delivery giant's shares opened at Rs 420 on the NSE, marking an 8% premium over its IPO price of Rs 390. On the BSE, shares began trading at Rs 412, at a premium of 5.6%.
The company's initial public offering was oversubscribed 3.59 times, with institutional investors showing particularly strong interest. The QIB portion saw 6.02 times oversubscription, though retail and HNI segments showed more modest participation.
The IPO, which aimed to raise approximately Rs 11,700 crore, garnered bids for 57.53 crore shares against the 16.01 crore shares offered. Swiggy plans to use these funds to invest in its subsidiary Scootsy, clear existing debt, expand its dark store network, and enhance its technology and brand presence.
Edited by Jyoti Narayan
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