Swiggy IPO
IPO Details
- Open Date
06 Nov 2024
- Close Date
08 Nov 2024
- IPO
Price Range
₹ 371 - ₹ 390
- IPO
Size
₹ 11327.43 Cr
- Listing Exchange
BSE, NSE
- Listing Date
13 Nov 2024
IPO Timeline
Last Updated: 30 October 2024 4:53 PM by 5Paisa
Swiggy IPO is set to open on 06 November 2024 and will close on 08 November 2024. Swiggy offers a simple app that lets users search for, choose, order, and pay for food, groceries, and household items. Through Swiggy's platform people can have their orders conveniently delivered to their homes by a network of delivery partners.
The IPO is a combination of a fresh issue of 11.54 Cr shares aggregating to ₹4,499.00 Cr and an offer for sale of 17.51 Cr shares aggregating to ₹6,828.43 Cr. The price range is set between ₹371 to ₹391 per share and the lot size is 38 shares.
The allotment is scheduled to be finalized on 11 November 2024. It will go public on BSE, NSE, with a tentative listing date of 13 November 2024.
Kotak Mahindra Capital Company Limited, Citigroup Global Markets India Private Limited, Jefferies India Private Limited, Avendus Capital Pvt Ltd, J.P. Morgan India Private Limited, Bofa Securities India Limited and ICICI Securities Limited while Link Intime India Private Ltd is the registrar.
Swiggy IPO Size
| Types | Size |
|---|---|
| Total IPO Size | ₹11,327.43 Cr |
| Offer For Sale | ₹4,499.00 Cr |
| Fresh Issue | ₹6,828.43 Cr |
Swiggy IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 38 | ₹14,820 |
| Retail (Max) | 13 | 494 | ₹1,92,660 |
| S-HNI (Min) | 14 | 532 | ₹2,07,480 |
| S-HNI (Max) | 67 | 2,546 | ₹9,92,940 |
| B-HNI (Min) | 68 | 2,584 | ₹10,07,760 |
1. Investment in Scootsy to repay some or all of its debts.
2. Investment in Scootsy to expand the Quick Commerce segment by setting up Dark Stores and covering lease/license costs.
3. Investment in technology and cloud infrastructure.
4. Spending on brand marketing to boost platform visibility across different segments.
5. Funding for growth through acquisitions and other general business needs.
Founded in 2014, Swiggy is a platform that makes it easy for users to order food, groceries and other household items for delivery through a single app. Users can search, select, order and pay for items directly within the app which connects them with a large network of on demand delivery partners.
Swiggy has five main business units:
Food Delivery: Delivers restaurant orders.
Out of-Home Consumption: Includes options for dining out and event bookings.
Quick Commerce (Instamart): Provides on demand grocery and household item delivery.
Supply Chain & Distribution: Offers business to business (B2B) logistics, warehousing and distribution services.
Platform Innovation: Includes new features like Swiggy Genie (pickup and delivery service) and Swiggy Minis (hyperlocal shopping).
The platform also enables restaurant bookings (Dineout) and event reservations (SteppinOut) and offers a membership program, Swiggy One for discounts and perks. Swiggy’s in app payment options include Swiggy Money (digital wallet), Swiggy UPI and a Swiggy-HDFC Bank credit card.
Swiggy supports its restaurant, merchant and brand partners with tools to enhance their online presence and reach. They also offer supply chain services to streamline deliveries, including last mile solutions.
As of 30 June 2024, Swiggy offered around 19,000 different grocery and household items, covering essentials like bread, eggs, snacks, personal care items, and festive goods. Swiggy’s Instamart operated 557 dark stores across 32 Indian cities as of June, expanding to 605 stores across 43 cities by 10 September 2024. The company had 5,401 employees as of June 2024.
Peers
| Particulars (in Rs. Crores) | FY24 | FY23 | FY22 |
|---|---|---|---|
| Revenue | 11,634.35 | 8,714.45 | 6,119.78 |
| EBITDA | -1,858.26 | -3,835.33 | -3,410.43 |
| PAT | -2,350.24 | -4,179.30- | -3,638.90 |
| Particulars (in Rs. Crores) | FY24 | FY23 | FY22 |
|---|---|---|---|
| Total Assets | 10,529.42 | 11,280.65 | 14,405.74 |
| Share Capital | 3.01 | 2.66 | 0.86 |
| Total Borrowings | 211.19 | - | - |
| Particulars (in Rs. Crores) | FY24 | FY23 | FY22 |
|---|---|---|---|
| Net Cash Generated From / (used in) operating activities | -1,312.74 | -4,059.91 | -3,900.39 |
| Net Cash Generated From / (used in) investing activities | 1,458.46 | 3,967.85 | 9,160.14 |
| Net Cash Generated From / (used in) financing activities | -122.80 | -171.55 | 13,634.15 |
| Net Increase (Decrease) In Cash And Cash Equivalents | 22.93 | -263.61 | 573.62 |
Strengths
1. Swiggy is one of India’s largest food delivery platforms, with a strong brand and a large customer base, giving it a significant market presence.
2. Beyond food delivery, Swiggy has expanded into grocery delivery with Swiggy Instamart, which enhances its revenue streams and provides a competitive edge.
3. The company has been focusing on cost optimization, improving delivery efficiency, and introducing strategic innovations that could positively impact its profitability.
4. Swiggy’s investment in AI and data analytics for route optimization and customer experience enhances its service efficiency and customer loyalty.
5. With rising smartphone penetration and urbanization in India, the food delivery market has substantial growth potential, benefiting Swiggy’s long-term outlook.
Risks
1. Swiggy faces challenges in achieving profitability due to high operational and customer acquisition costs.
2. Swiggy competes with Zomato and other emerging platforms in a competitive market.
3. Food delivery platforms face regulatory scrutiny around gig worker rights, data privacy, and service charges.
4. Swiggy has historically relied on discounts and promotions, which may impact profitability if customers are price-sensitive or if promotional spending escalates.
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FAQs
Swiggy IPO opens from 06 November to 08 November 2024.
The size of Swiggy IPO is ₹11,327.43 Cr.
The price of Swiggy IPO is fixed at ₹371 to ₹390 per share.
To apply for Swiggy IPO, follow the steps given below:
● Login to your 5paisa account and select the issue in the current IPO section
● Enter the number of lots and the price at which you wish to apply for the Swiggy IPO.
● Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.
You will receive a mandate notification to block funds in your UPI app.
The minimum lot size of Swiggy IPO is 38 shares and the investment required is ₹ 14,098.
The share allotment date of Swiggy IPO is 11 November 2024.
The Swiggy IPO will be listed on 13 November 2024.
Kotak Mahindra Capital Company Limited, Citigroup Global Markets India Private Limited, Jefferies India Private Limited, Avendus Capital Pvt Ltd, J.P. Morgan India Private Limited, Bofa Securities India Limited and ICICI Securities Limited are the book running lead managers for Swiggy IPO.
1. Investment in Scootsy to repay some or all of its debts.
2. Investment in Scootsy to expand the Quick Commerce segment by setting up Dark Stores and covering lease/license costs.
3. Investment in technology and cloud infrastructure.
4. Spending on brand marketing to boost platform visibility across different segments.
5. Funding for growth through acquisitions and other general business needs.
Contact Information
Swiggy
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 Register
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 Manager
Kotak Mahindra Capital Company Limited
Citigroup Global Markets India Private Limited
Jefferies India Private Limited
Avendus Capital Pvt Ltd
J.P. Morgan India Private Limited
Bofa Securities India Limited
ICICI Securities Limited
