Amazon in talks with Swiggy for Instamart quick commerce business deal: Report

Amazon India has approached Swiggy for a potential deal involving its quick commerce business, Instamart, as reported by Economic Times.

According to people familiar with the matter, this development follows Swiggy's confidential filing of draft documents with SEBI for a Rs 10,414 crore ($1.25 billion) public offering, one of the largest for a new-age internet firm.

One source said, “Amazon has swooped in with interest to either pick up a stake in the ongoing pre-IPO placement or a buyout proposal for Instamart… but there are multiple roadblocks at the moment."

Sources say there’s no official offer on the table yet, and Amazon's headquarters in Seattle will need to move swiftly for any chance of talks progressing to the next stage. The early discussions might not result in a transaction due to the complicated structure of the deal in its current form, these sources indicated.