Swiggy IPO Overview

Swiggy is launching its IPO with a total issue size of ₹11,327.43 crores. This includes a fresh issue of 11.54 crore shares amounting to ₹4,499.00 crores, along with an offer for sale of 17.51 crore shares, aggregating to ₹6,828.43 crores.

The IPO will open for subscription on November 6, 2024, and will close on November 8, 2024. The allotment is expected to be finalized on November 11, 2024, with shares set to list on both BSE and NSE on November 13, 2024.

Swiggy has set its IPO price band at ₹371 to ₹390 per share. Investors can gain access to Swiggy’s IPO and be part of one of India’s largest food delivery platforms.

Top financial institutions are serving as  lead managers for the IPO, including Kotak Mahindra Capital Company Limited, Citigroup Global Markets India, Jefferies India, Avendus Capital, J.P. Morgan India, Bofa Securities India, and ICICI Securities. Link Intime India Private Ltd is the appointed registrar for the issue.

Refer to Swiggy IPO RHP for detailed information.

Swiggy IPO Important dates

Swiggy IPO opens on November 6, 2024, and closes on November 8, 2024.

IPO Open Date Wednesday, November 6, 2024
IPO Close Date Friday, November 8, 2024
Basis of Allotment Monday, November 11, 2024
Initiation of Refunds Tuesday, November 12, 2024
Credit of Shares to Demat Tuesday, November 12, 2024
Listing Date Wednesday, November 13, 2024
Cut-off time for UPI mandate confirmation 5 PM on November 8, 2024

Swiggy IPO Financial Performance

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

Swiggy IPO Key Performance Indicator

The market capitalization of Swiggy IPO is Rs 87298.6 Cr.

KPI as of June 30, 2024.

KPI Values
RoNW -8.21%
P/BV 11.6

 

Pre IPO Post IPO
EPS (Rs)  -11.07 -10.92
P/E (x)  -35.23 -35.72

Note:

  • The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2024 that is available in RHP.
  • The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of June 30, 2024 that is available in RHP.

Swiggy IPO Objectives

The company proposes to utilize the Net Proceeds towards funding the following objects:

  1. Investment in the Material Subsidiary, Scootsy, for repayment or pre-payment, in full or in part, of certain or all of its borrowings;
  2. 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;
  3. Investment in technology and cloud infrastructure;
  4. Brand marketing and business promotion expenses for enhancing the brand awareness and visibility of its platform, across segments; and
  5. Funding inorganic growth through unidentified acquisitions and general corporate purposes.

Swiggy Limited IPO Prospectus 

Swiggy IPO Details

IPO Date November 6, 2024 to November 8, 2024
Listing Date [.]
Face Value ₹1 per share
Price Band ₹371 to ₹390 per share
Lot Size
Total Issue Size 290,446,837 shares
(aggregating up to ₹11,327.43 Cr)
Fresh Issue 115,358,974 shares
(aggregating up to ₹4,499.00 Cr)
Offer for Sale 175,087,863 shares of ₹1
(aggregating up to ₹6,828.43 Cr)
Issue Type Book Built Issue IPO
Listing At BSE, NSE
Share holding pre issue 2,123,066,748
Share holding post issue 2,238,425,722

Swiggy  IPO Company Overview and Services

Founded in 2014, Swiggy Limited has emerged as a leading platform for on-demand delivery, providing users with a seamless app to order and pay for food, groceries, and household items, all delivered by an extensive delivery partner network.

Swiggy operates five main business units: Food Delivery, Out-of-Home Consumption (which covers dining and event experiences), Quick Commerce for grocery delivery, Supply Chain and Distribution for B2B logistics, and Platform Innovation with initiatives like Swiggy Genie and Swiggy Minis for hyperlocal services. The platform supports a diverse range of user needs, from restaurant reservations through Dineout to event bookings via SteppinOut, and hyperlocal product pickups through Genie.

Swiggy’s unique membership program, Swiggy One, offers exclusive discounts and benefits, while its integrated payment solutions—like Swiggy Money, Swiggy UPI, and a co-branded credit card with HDFC Bank—streamline transactions for users.

For business partners, Swiggy offers comprehensive enablement solutions, including analytics-driven tools to improve online visibility, supply chain fulfillment services, and last-mile delivery, catering to restaurant partners, grocery merchants, and brand partners.

Swiggy Instamart, a rapid grocery delivery service, boasts a vast product selection with 19,000 SKUs, ranging from daily essentials to festival-specific items. As of September 2024, Instamart’s network has expanded to 605 active dark stores across 43 cities, further strengthening Swiggy’s infrastructure. Swiggy employs 5,401 people as of June 2024, underscoring its growth and influence in the Indian on-demand delivery market.

Swiggy IPO SWOT Analysis

Strengths

  • Market Leader in India: Swiggy is one of the top food delivery platforms in India, with strong brand recognition and a vast customer base, offering a strategic advantage in the competitive food-tech industry.
  • Diverse Revenue Streams: With Swiggy’s expansion into grocery delivery and cloud kitchens, it has diversified beyond food delivery, reducing dependence on a single revenue stream.
  • Strong Financial Backing: The involvement of leading financial institutions as book-running lead managers reflects strong investor confidence, enhancing credibility and investor interest.

Weaknesses

  • High Operational Costs: The food delivery industry is resource-intensive, with high costs related to logistics, discounts, and driver incentives, which could impact profitability.
  • Competitive Pressure: Swiggy faces stiff competition from other delivery platforms, both from local players like Zomato and international entrants, which may influence market share and pricing.

Opportunities

  • Expanding Demand for Delivery Services: Growing demand for online food and grocery delivery in India offers significant growth potential.
  • IPO for Capital: The IPO capital can support Swiggy’s expansion plans, operational improvements, and technological advancements, potentially increasing market share and profitability.

Threats

  • Regulatory Changes: The food-tech industry faces regulatory scrutiny around data privacy, labor laws, and pricing, which could impact operations and profitability.
  • Economic Downturns: In periods of economic slowdown, discretionary spending on food delivery may decline, affecting revenue growth.

Swiggy’s IPO represents an opportunity to attract investors as it seeks to expand in a rapidly evolving market, though it will need to navigate high competition and operational expenses to secure long-term growth.

Swiggy Limited IPO GMP Details

Swiggy IPO last GMP is ₹1, last updated Nov 8th 2024. With the price band of 390.00, Swiggy IPO’s estimated listing price is ₹391 (cap price + today’s GMP).The expected percentage gain/loss per share is 0.26%.

**The GMP prices shown here are only news related to the grey market. We do not trade/deal in grey market or subject to rates (sub2), nor do we recommend trading in grey market.

GMP Date IPO Price GMP Sub2 Sauda Rate Estimated Listing Price Last Updated
08-11-2024 Close 390.00 ₹1  — ₹391 (0.26%) 8-Nov-2024
07-11-2024 390.00 ₹2  100/1400 ₹392 (0.51%) 7-Nov-2024
06-11-2024 Open 390.00 ₹9.50  300/4200 ₹399.5 (2.44%) 6-Nov-2024
05-11-2024 390.00 ₹12  300/4200 ₹402 (3.08%) 5-Nov-2024
04-11-2024 390.00 ₹20  600/8400 ₹410 (5.13%) 4-Nov-2024
03-11-2024 390.00 ₹22  600/8400 ₹412 (5.64%) 3-Nov-2024

What is IPO GMP?

The grey market premium (GMP) reflects the unofficial trading price of an IPO before its listing, offering insights into its potential market performance. A positive GMP indicates that the IPO may yield profits, while a negative GMP suggests a possible discount upon listing. However, it’s essential to recognize that IPO GMP can be highly volatile. Therefore, investors should not make decisions solely based on the GMP but should thoroughly assess all relevant factors before investing.

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Swiggy IPO Subscription status 

Swiggy IPO subscribed 0.35 times. The public issue subscribed 0.84 times in the retail category, 0.28 times in QIB, and 0.14 times in the NII category by November 7, 2024 (Day 2).

Investor Category Subscription (times) Shares Offered Shares Bid for Total Amount (Rs Cr.)*
Qualified Institutions 0.28 86,923,475 2,47,13,452 963.82
Non-Institutional Buyers 0.14 43,461,737 59,31,154 231.32
  bNII (bids above ₹10L) 0.10 28,974,491 28,09,568 109.57
  sNII (bids below ₹10L) 0.22 14,487,246 31,21,586 121.74
Retail Investors 0.84 28,974,491 2,44,26,894 952.65
Employees 1.16 750,000 8,68,604 33.88
Others [.] 0 0 0
Total 0.35 160,109,703 5,59,40,104 2,181.66

Total Application : 493,673 (0.65 times)

Disclaimer: *The total amount is calculated based on the final issue price or the price in the upper price range.

Swiggy IPO (Day-wise) Subscription Details (times)

Date QIB NII Retail EMP Total
Day 1
November 6, 2024		 0.00 0.06 0.56 0.76 0.12
Day 2
November 7, 2024		 0.28 0.14 0.84 1.16 0.35

Swiggy IPO Allotment status 

The allotment status of Swiggy IPO is expected to be available on November 11, 2024.

Swiggy IPO allotment status is not available at this time. Swiggy IPO – The allotment status will be available once the basis of allotment is finalized. Please revisit us to check the latest updates for Swiggy Limited IPO allotment status.

To check Swiggy IPO allotment status, follow the steps below:

  1. Click on the below allotment status check button.
  2. Select Company Name.
  3. Enter your PAN Number, Application Number or DP Client ID (Anyone).
  4. Click on Search.

On securing the allotment, you will receive the credit of equivalent shares in your Demat account.

If you have any concerns or queries about the allotment status, contact Link Intime India Private Ltd either by phone or email. Investors can call on +91-22-4918 6270 or send an email with all relevant details to swiggy.ipo@linkintime.co.in.

Swiggy IPO Prospectus

Swiggy IPO 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/

Swiggy IPO Registrar

Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: swiggy.ipo@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html

Swiggy IPO Lead Managers

  1. Kotak Mahindra Capital Company Limited
  2. Citigroup Global Markets India Private Limited
  3. Jefferies India Private Limited
  4. Avendus Capital Pvt Ltd
  5. J.P. Morgan India Private Limited
  6. Bofa Securities India Limited
  7. ICICI Securities Limited

 

Disclaimer: Investing in Initial Public Offerings (IPOs) involves substantial risk, and financial returns are not guaranteed. The information provided should not be construed as financial or investment advice. Prospective investors are advised to consider their financial situation, investment objectives, and risk tolerance before participating in an IPO. It is recommended to consult with a qualified financial advisor or professional before making any investment decisions. Past performance is not indicative of future results. Investments in IPOs may be subject to market risk, including the potential loss of principal.