SynopsisSwiggy shares climbed significantly, extending recent gains for a third consecutive session. Nandita Sinha, former Myntra CEO, now leads Swiggy's Instamart business.This appointment occurs amid intense competition in India's quick commerce sector. Meanwhile, Zepto is reportedly negotiating its IPO pricing at a lower valuation.The company may defer its listing if valuation targets are not met.AgenciesSwiggy shares have gained around 10% in a week and 21% in a month, but have fallen nearly 26% in 2026 so far.Shares of food delivery and quick commerce giant Swiggy jumped nearly 8% on Wednesday, extending sharp gains for the third consecutive session as investor optimism peaked after new Instamart CEO’s appointment and Zepto’s likely valuation cut ahead of IPO.Swiggy shares rose to Rs 289.93 apiece on Wednesday. The stock has now gained 15% in just three sessions and recovered around 23% after hitting a 52-week low of Rs 236 apiece at the end of last month.Swiggy appoints new Instamart CEOEarlier this week, Swiggy said that Amitesh Kumar Jha has resigned as the CEO of its quick commerce business, Instamart. Former Myntra CEO Nandita Sinha will fill the vacated position, effective from August 3 onwards.Nandita Sinha had quit Myntra in April this year after leading the fashion e-commerce giant since 2022. During her previous stint as Myntra CEO, Nandita Sinha led the fashion e-commerce platform to become India's largest player in the segment. Under her leadership, Myntra achieved EBITDA profitability in 2024 while continuing to gain market share in an intensely competitive market."I have long admired what the team at Instamart has built. It's a business with a strong customer-first culture, great talent, and significant opportunities ahead. Instamart sits at the heart of how India shops for its everyday needs, and I look forward to working with our colleagues, partners, and consumers to shape its next chapter of growth," Sinha said.Her appointment as Instamart CEO comes at a time when India's quick commerce sector continues to see intense competition, with new entrants including Amazon and Flipkart challenging the duopoly of Swiggy and Zomato in the sector.Also Read | Swiggy Instamart ropes in ex-Myntra boss Nandita Sinha as q-comm battle heats upZepto likely takes a valuation cutAnother quick commerce major Zepto meanwhile is negotiating the pricing of its initial public offering (IPO) at a valuation sharply below its last private round, The Economic Times has learnt. The valuation currently on the table stands at around $2.5-3 billion, well below the $7 billion at which it raised $450 million in October 2025 in a round led by US-based pension fund Calpers, ET reported.Zepto may even defer the listing over the next couple of weeks if the price gap does not close, people familiar with the matter told ET. Notably, the validity of Zepto’s current IPO draft papers runs until August 21.A spokesperson for Zepto said that the company had not yet deferred its IPO. The company filed its updated DRHP last month. The much-awaited IPO of Zepto will comprise a fresh issue of shares worth Rs 8,010 crore and an offer-for-sale (OFS) of nearly 11.35 crore shares by existing shareholders, according to the updated prospectus. The five-year-old company had filed its IPO papers confidentially with market regulator SEBI back in December 2025 and received the regulator's approval in May this year.Also Read | Zepto negotiating IPO pricing; may defer listing over next few weeksSwiggy share priceSwiggy shares have gained around 10% in a week and 21% in a month, but have fallen nearly 26% in 2026 so far. In the longer term, Swiggy shares have fallen around 30% in one year.The company currently has a market capitalisation of more than Rs 79,610 crore. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)Read More News on(What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. 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