Swiggy Limited - IPO

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Swiggy IPO Details

Open Date

06 Nov 2024

Close Date

08 Nov 2024

Listing Date

13 Nov 2024

Issue Price

₹371 - ₹390

Face Value

₹1 per share

Lot Size

GMP

₹0 (0.0%)

Issue Type

IPO

Listing On

NSE, BSE

Type

Book Built Issue

Share holding pre issue

2,12,30,66,748

Share holding post issue

2,23,84,25,722

Total Issue Size

29,04,46,837 shares (aggregating up to ₹11,327.43 Cr)

Fresh Issue

11,53,58,974 shares (aggregating up to ₹4,499.00 Cr)

Offer for Sale

17,50,87,863 shares (aggregating up to ₹6,828.43 Cr)

Swiggy IPO Subscription

Swiggy IPO Application Wise Breakup (Approx)

Swiggy IPO Dates

06 Nov 2024
Opening dateOPD
08 Nov 2024
Closing dateCOD
11 Nov 2024
Basis of AllotmentBOA
12 Nov 2024
Initiation of RefundsIOR
12 Nov 2024
Credit of SharesCOS
13 Nov 2024
Listing 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

Pre Issue:63.56%

Post Issue:-

Documents

› Swiggy IPO DRHP

› Swiggy IPO RHP

› Anchor Investors in Swiggy IPO

Swiggy IPO Valuations

RoNW:-8.21%

P/BV:11.6

EPS Pre IPO:-11.07

EPS Post IPO:-10.92

P/E Pre IPO:-35.23

P/E Post IPO:-35.72

Swiggy Limited 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

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

Name: Link Intime India Private Ltd

Phone: +91-22-49186200

Email: swiggy.ipo@linkintime.co.in

Website: https://in.mpms.mufg.com/Initial_Offer/public-issues.html

Lead Mangers

Kotak Mahindra Capital Company Limited
Jefferies India Private Limited
Citigroup Global Markets India Private Limited
Avendus Capital Pvt Ltd
J.P. Morgan India Private Limited
Bofa Securities India Limited
ICICI Securities Limited