Swiggy Limited IPO Details
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Swiggy IPO opens for subscription on 06 Nov 2024 and closes on 08 Nov 2024. The IPO will be listed on NSE, BSE with the tentative listing date set for 13 Nov 2024.
Swiggy IPO price band has been fixed at ₹371 – ₹390 per share.The face value is ₹1 per share with a lot size of 38.
Swiggy IPO total issue size comprises 29,04,46,837 shares (aggregating up to ₹11,327.43 Cr). This includes a fresh issue of 11,53,58,974 shares (aggregating up to ₹4,499.00 Cr). Offer for Sale consists of 17,50,87,863 shares (aggregating up to ₹6,828.43 Cr). Pre-issue shareholding stands at 2,12,30,66,748, which will increase to 2,23,84,25,722 post-issue.
Swiggy IPO Lot Size : Retain Minimum is 1 lot (38 shares) amounting to ₹14,820. Retain Maximum is 13 lots (494 shares) amounting to ₹192,660. SHNI Minimum is 14 lots (532 shares) amounting to ₹207,480. SHNI Maximum is 67 lots (2,546 shares) amounting to ₹992,940. BHNI Minimum is 68 lots (2,584 shares) amounting to ₹1,007,760.
The Lead Managers for Swiggy IPO are crucial for the offering's success. They are responsible for a wide range of tasks, including preparing the company for the public market, managing the regulatory filings, and marketing the IPO to potential investors. The lead manager for this offering is Kotak Mahindra Capital Company Limited, Jefferies India Private Limited, Citigroup Global Markets India Private Limited, Avendus Capital Pvt Ltd, JP Morgan India Pvt.Ltd., Bofa Securities India Limited, ICICI Securities Limited. To assess their past performance and success in previous IPOs, you can view the Lead Manager Performance Summary report.
For detailed information, Refer to the Swiggy Limited RHP.
Swiggy IPO Details
Swiggy IPO Subscription
Swiggy IPO Application Wise Breakup (Approx)
Swiggy IPO Dates
- 06 Nov 2024Opening dateOPD
- 08 Nov 2024Closing dateCOD
- 11 Nov 2024Allotment Date BOA
- 12 Nov 2024Initiation of RefundsIOR
- 12 Nov 2024Credit of SharesCOS
- 13 Nov 2024Listing dateLID
Swiggy IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retain Minimum | 1 | 38 | ₹14,820 |
| Retain Maximum | 13 | 494 | ₹192,660 |
| SHNI Minimum | 14 | 532 | ₹207,480 |
| SHNI Maximum | 67 | 2546 | ₹992,940 |
| BHNI Minimum | 68 | 2584 | ₹1,007,760 |
Swiggy IPO Reservation
Promoter Holding
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Swiggy IPO Valuations
Swiggy Financial Information
Swiggy Limited's revenue increased by 34% and profit after tax (PAT) rose by 44% between the financial year ending with March 31, 2024 and March 31, 2023.
| Period Ended | 30 Jun 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 | ||||||||||||||||||||||||||||||||||||
| Assets | 10,341.24 | 10,529.42 | 11,280.65 | 14,405.74 | ||||||||||||||||||||||||||||||||||||
| Revenue | 3,310.11 | 11,634.35 | 8,714.45 | 6,119.78 | ||||||||||||||||||||||||||||||||||||
| Profit After Tax | -611.01 | -2,350.24 | -4,179.31 | -3,628.9 | ||||||||||||||||||||||||||||||||||||
| Net Worth | 7,444.99 | 7,791.46 | 9,056.61 | 12,266.91 | ||||||||||||||||||||||||||||||||||||
| Reserves and Surplus | -7,750.85 | -7,880.85 | -6,510.34 | -3,311.1 | ||||||||||||||||||||||||||||||||||||
| Total Borrowing | 256.61 | 211.19 | ||||||||||||||||||||||||||||||||||||||
| Amount in ₹ Crore | ||||||||||||||||||||||||||||||||||||||||
About Swiggy IPO
Founded in 2014, Swiggy Limited provides its users with an easy-to-use platform that they can access via a single app to search, select, order, and pay for food (Food Delivery), grocery and household goods (Instamart) and have orders delivered to their homes via an on-demand delivery partner network.
The company has five business units:
- Food Delivery;
- Out-of-home consumption, which includes restaurant visits and events;
- Quick Commerce for the delivery of grocery and household items on demand;
- Supply chain and distribution: business-to-business (“B2B”) deliveries, warehousing, logistics and distribution for wholesalers and retailers; and
- Platform innovation for new initiatives and offerings such as Swiggy Genie and Swiggy Minis.
The company's platform enables restaurant reservations (Dineout) and event bookings (SteppinOut), product pickups/deliveries (Genie) and other hyperlocal commerce activities (Swiggy Minis and others). The company also offers a membership program called “Swiggy One” with discounts and offers, in-app payment solutions such as a digital wallet “Swiggy Money” (a prepaid payment instrument), “Swiggy UPI” and a Swiggy-HDFC Bank credit card for additional benefits.
Swiggy offers restaurant partners, merchant partners (who sell grocery and household items on the Swiggy platform) and brand partners, including alliance partners, comprehensive business enablement solutions such as analytics-driven tools to improve their online presence and user base, fulfillment services to streamline their supply chain and last-mile delivery.
As of June 30, 2024, Swiggy carried a selection of approximately 19,000 SKUs of grocery and household items. These products include (i) everyday convenience purchases such as eggs, bread, fruit, and vegetables, (ii) impulse purchases of snacks and quick meals, (iii) recurring purchases that are typically made on a monthly or weekly basis, such as Household items like shampoo, soap and others, (iv) call-off purchases that are made on an ad hoc basis, such as feminine hygiene, basic pharmaceutical and personal care items and stationery, and (v) occasion and festival-related purchases, which include sweets, festive supplies and team items at sporting events.
As of June 30, 2024, Swiggy's Instamart operated a large network of 557 Active Dark Stores across 32 cities in India and as of September 10, 2024, Instamart operated a network of 605 Active Dark Stores across 43 cities in India.
As of June 30, 2024, the company employed 5,401 people.
Strength Of Swiggy IPO
1. Pioneers of high-frequency hyperlocal commerce categories driven by an innovation-led culture.
2. A consistently growing network of users.
3. Rising user engagement on our platform.
4. "Swiggy" brand delivered through a unified app with consistent user experience.
5. A preferred choice for restaurant partners, merchant partners, brand partners and delivery partners.
6. Our platform has created strong network effects driven by our wide user and partner base.
7. An experienced professional management team and high standards of governance.
Risk Of Swiggy IPO
1. The company has incurred net losses in each year since incorporation and have negative cash flows from operations. If the company is unable to generate adequate revenue growth and manage its expenses and cash flows, the company may continue to incur significant losses.
2. If the company fails to retain its existing user base or fails to acquire new users in a cost-effective manner, its business, financial condition and results of operations could be adversely affected.
3. Attracting and retaining delivery partners is critical to its business, and failures to do so in a cost-effective way may have an adverse effect on its business, financial condition and results of operations.
4. If the company fails to retain its existing or acquire additional restaurant partners, merchant partners and brand partners in a cost-effective manner, its business, financial condition and results of operations could be adversely affected. Further, if partners on its platform try to pass on increased operating costs to users, users may decrease the frequency with which they interact on its platform and order volumes on the company platform may decline.
5. Managing its Dark Stores is critical to the company Quick Commerce business and failures to do so in a cost-effective way may have an adverse effect on its business, financial condition and results of operations.
6. Managing its warehouses is critical to the company Supply Chain and Distribution business and failures to do so in a cost-effective way may have an adverse effect on its business, financial condition and results of operations.
7. The company faces intense competition across the markets its serve and if the company is unable to compete effectively, its business, financial condition and results of operations would be adversely affected.
8. If the company restaurant partners and merchant partners fails to timely identify or effectively respond to changing user preferences and spending patterns or provide high-quality food and products, user engagement on its platform could be negatively affected, the demand for food and products provided on the company platform could decrease, and its revenue and results of operations may decline.
9. The uninterrupted functioning of its technology platform is essential to the company's business. Systems failures and resulting interruptions in the availability of its website, mobile application or platform could adversely affect its business, financial condition and results of operations.
10. Any actual or perceived cybersecurity, data or privacy breach could interrupt its operations and adversely affect the company reputation, brand, business, financial condition and results of operations.
Objectives Swiggy IPO
- Investment in the Material Subsidiary, Scootsy, for repayment or pre-payment, in full or in part, of certain or all of its borrowings;
- Investment in the Material Subsidiary, Scootsy, for (a) expansion of Dark Store network for Quick Commerce segment through setting up of Dark Stores; and (b) making lease/license payments for Dark Stores;
- Investment in technology and cloud infrastructure;
- Brand marketing and business promotion expenses for enhancing the brand awareness and visibility of its platform, across segments; and
- Funding inorganic growth through unidentified acquisitions and general corporate purposes.
Company Contact Details
Swiggy Limited
No. 55, Sy No. 8-14, Ground Floor, I&J Block,
Embassy Tech Village, Outer Ring Road,
Devarbisanahalli, Bengaluru - 560 103
Phone: + 91 95907 56603
Email: secretarial@swiggy.in
Website: https://www.swiggy.com/
Registrar Contact Details
Lead Mangers
Lead Manager Reports