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About Swiggy IPO
Swiggy is set to roll out a Rs 11,327.43 crore book. This IPO subscription is an amalgamation of a fresh issue of Rs 4,499 crore (11.54 crore shares) and an offer-for-sale of Rs 6,828.43 crore (17.51 crore shares). The firm will be listed on both BSE and NSE.
Retail investors need to invest a minimum of Rs 14,820. Small NII investors require a minimum investment of Rs 207,480 for 532 shares, which is 14 lots. Large NII investors need a minimum investment of Rs 1,007,760 for 2,584 shares, which is 68 lots.
The issue reserves up to 750,000 shares for employees at a discount of Rs 25 off the issue price.
Link Intime India Pvt Ltd is the registrar to the issue. Kotak Mahindra Capital Company Ltd, Citigroup Global Markets India Pvt Ltd, Jefferies India Pvt Ltd, Avendus Capital Pvt Ltd, J.P. Morgan India Pvt Ltd, Bofa Securities India Ltd and ICICI Securities Ltd are the book running lead managers in this IPO.
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Swiggy IPO GMP Details:
The Swiggy IPO GMP Today is Rs 20, as of 5th Nov, 2024 09:32 AM. The IPO has a price band of Rs 390. The estimated listing price for Swiggy is Rs 420, reflecting a potential gain of 4.62% per share.
For the IPO, the Retail Subject to Sauda is Rs 700, and the Small HNI Subject to Sauda is Rs 9,800. The GMP ranges from a low of Rs 0 to a high of Rs 25.
Swiggy IPO Details:
| Swiggy IPO Opening Date and Closing Date | 6th November to 8th November |
| Swiggy Face Value | Rs 1 per share |
| Price Band | Rs 371 to Rs 390 per share |
| Swiggy IPO Lot Size | 38 Shares |
| Total Issue Size | 290,446,837 shares (aggregating up to Rs 11,327.43 Cr) |
| Fresh Issue | 115,358,974 shares (aggregating up to Rs 4,499 Cr) |
| Offer for Sale | 175,087,863 shares (aggregating up to Rs 6,828.43 Cr) |
| Employee Discount | Rs 25 per share |
| Issue Type | Book-Built Type Issue |
| Listing At | NSE, BSE |
| Shareholding Pre-Issue | 2,123,066,748 |
| Shareholding Post Issue | 2,238,425,722 |
| Basis of Allotment | Monday, 11th November, 2024 |
| Refund Initiation | Tuesday, 12th November, 2024 |
| Credit of Shares in Demat | Tuesday, 12th November, 2024 |
| Swiggy Listing Date | Wednesday, 13th November, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on 8th November, 2024 |
| Draft Red Herring Prospectus | Link |
| Red Herring Prospectus | Link |
Swiggy IPO Company Details
Founded in 2014, Swiggy Limited offers a single app where users can easily search, select, order, and pay for food (Food Delivery) and groceries or household goods (Instamart), with orders delivered by an on-demand partner network.
Swiggy Limited has five main business units:
- Food Delivery
- Out-of-Home Consumption: Restaurant visits and event bookings
- Quick Commerce: On-demand grocery and household item delivery
- Supply Chain & Distribution: B2B deliveries, warehousing, logistics for wholesalers and retailers
- Platform Innovation: New services like Swiggy Genie and Swiggy Minis
The platform also supports restaurant reservations (Dineout), event bookings (SteppinOut), product deliveries (Genie), and other hyperlocal services (Swiggy Minis). Swiggy offers a membership program, Swiggy One for discounts, in-app payments through Swiggy Money and Swiggy UPI, and a Swiggy-HDFC credit card for extra perks.
Swiggy provides restaurant, merchant, and brand partners with tools like analytics for boosting online reach, fulfilment services to enhance supply chains, and last-mile delivery support.
As of 30th June, 2024, Swiggy offered around 19,000 SKUs of groceries and household items, covering:
- Everyday essentials: Eggs, bread, fruits, and vegetables
- Impulse buys: Snacks and quick meals
- Recurring purchases: Shampoo, soap, and household staples
- Ad hoc needs: Feminine hygiene, basic medicines, personal care, and stationery
- Festive/occasional items: Sweets, festive supplies, and event-related goods
As of 30th June, 2024, Swiggy’s Instamart had 557 active dark stores in 32 cities across India. By 10th September, 2024, this grew to 605 dark stores in 43 cities.
As of 30th June, 2024, Swiggy employed 5,401 people.
Swiggy lot Size, Shares, And Their Value:
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 38 | Rs 14,820 |
| Retail (Max) | 13 | 494 | Rs 192,660 |
| S-HNI (Min) | 14 | 532 | Rs 207,480 |
| S-HNI (Max) | 67 | 2,546 | Rs 992,940 |
| B-HNI (Min) | 68 | 2,584 | Rs 1,007,760 |
Swiggy Shares Offered To It’s Investors:
| Investor Category | Shares Offered |
| QIB Shares Offered | Not less than 75.00% of the offer |
| Retail Shares Offered | Not more than 10.00% of the Offer |
| NII (HNI) Shares Offered | Not more than 15.00% of the Offer |
Swiggy Financials:
For the period ended on 31st March, 2024 & 31st March, 2023:
| Periods Ended | 31st Mar, 2024 | 31st Mar, 2023 |
| Assets | Rs 10,529.42 Cr. | Rs 11,280.65 Cr. |
| Revenue | Rs 11,634.35 Cr. | Rs 8,714.45 Cr. |
| Profit After Tax | Rs -2,350.24 Cr. | Rs -4,179.31 Cr. |
| Net Worth | Rs 7,791.46 Cr. | Rs 9,056.61 Cr. |
| Reserves and Supplies | Rs -7,880.85 Cr. | Rs -6,510.34 Cr. |
| Total Borrowing | Rs 211.19 Cr. |
Should You Invest in the Swiggy IPO?
Financial Performance:
Revenue: The company generated Rs 3,310.11 crore in revenue during the period ended on 30th June, 2024.
Profit After Tax (PAT): The company reported a post-tax loss of Rs 611.01 crore.
Net Worth: The company’s net worth, which represents the total value of the company’s assets minus its liabilities, is Rs 7,444.99 crore.
Financial Position:
Assets: The company’s total assets amounted to Rs 10,341.24 crore.
Reserves and Surplus: The company has accumulated losses totaling Rs 7,750.85 crore.
Total Borrowing: The company has borrowed a total of Rs 256.61 crore.
Swiggy Key Performance Indicators (KPI) and their values:
The market capitalisation of Swiggy IPO is Rs 87,298.6 crore. As of 30th June, KPI and their values are:
| KPI | Values |
| Return on Net Worth (RoNW) | -8.21% |
| Price to Book Value (P/BV) | 11.6 |
Objectives Of Swiggy IPO:
The company plans to use the Net Proceeds for:
- Investments in Scootsy:
- Repaying or pre-paying some or all of its debts
- Expanding the Quick Commerce segment by setting up new Dark Stores and covering lease payments
- Technology and Cloud Infrastructure investments
- Brand Marketing and Promotion to increase platform visibility
- Funding Acquisitions and for general corporate purposes.
Some Major Risks Associated With The Swiggy IPO Are:
- The company has faced net losses and negative operating cash flows every year since its inception. Without strong revenue growth and cost management, it may continue to incur large losses.
- If the company struggles to retain current users or attract new ones cost-effectively, its business, financial health, and operating results could be negatively impacted.
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Frequently Asked Questions (FAQs)
What is the price band of Swiggy’s IPO?
Price band has been fixed at Rs 371 and Rs 390 per share.
What is the retail investor quota of Swiggy’s IPO?
A maximum of 10% shares shall go to the retail investors.
Where can I track Swiggy’s stock performance?
You can track it on Unicorn Signals after listing.
How can I apply for Swiggy’s Initial Public Offer?
Through your demat account or through your bank/financial institution during the IPO period.
When is the Last Date of IPO subscription for Swiggy?
The cut-off time is on 8th November, 2024, by 5 PM; however, most brokers do not take any more applications after 1-3 PM.
