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:
- Everyday convenience purchases such as eggs, bread, fruit, and vegetables,
- Impulse purchases of snacks and quick meals,
- Recurring purchases that are typically made on a monthly or weekly basis, such as Household items like shampoo, soap and others,
- Call-off purchases that are made on an ad hoc basis, such as feminine hygiene, basic pharmaceutical and personal care items and stationery, and
- 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.
Swiggy IPO – Details
| IPO Opening Date | 06 November 2024 |
| IPO Closing Date | 08 November 2024 |
| Issue Type | Book Built Issue IPO |
| Issue Size | Total Issue Size: 29,04,46,837 Shares Worth ₹11,327.43 Crore Fresh Issue: 11,53,58,974 Shares Worth ₹4,499.00 Crore Offer For Sale: 17,50,87,863 Shares Worth ₹6,828.43 Crore |
| Face Value | ₹1 per equity share |
| IPO Price | ₹371 – ₹390 per share |
| Market Lot | 38 Shares |
| Min Order | 38 Shares (1 Lot) |
| Employee Discount | ₹25 |
| Listing At | BSE, NSE |
| Register | Link Intime India Private Ltd |
| QIB Shares Offered | 75% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 10% |
Swiggy IPO – Date Schedule
| IPO Open Date | 06 November 2024 |
| IPO Close Date | 08 November 2024 |
| Basis of Allotment | 11 November 2024 |
| Initiation of Refund | 12 November 2024 |
| Credit of Shares to Demat Account | 12 November 2024 |
| IPO Listing Date | 13 November 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on November 08, 2024 |
Swiggy IPO – Lots Size & Price
| 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 | 2546 | ₹9,92,940 |
| B-HNI (Min) | 68 | 2584 | ₹10,07,760 |
Competitive Strengths
- Pioneers of high-frequency hyperlocal commerce categories driven by an innovation-led culture.
- A consistently growing network of users.
- Rising user engagement on the company’s platform.
- “Swiggy” brand delivered through a unified app with consistent user experience.
- A preferred choice for restaurants, merchants, brands, and delivery partners.
- The company’s platform has created strong network effects driven by the wide user and partner base.
- An experienced professional management team and high standards of governance.
Company Financials
| Particulars | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2022 | 6,119.77 | 9,574.45 | – 3,628.89 | – |
| 31 March 2023 | 8,714.45 | 12,884.39 | – 4,179.30 | – |
| 31 March 2024 | 11,634.34 | 13,947.38 | – 2,350.24 | 211.19 |
| 30 June 2024 | 3,310.11 | 3,907.95 | – 611.00 | 256.61 |
Key Performance Indicator
| 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 |
Object Of The Issue
- 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.
Swiggy IPO Peer Comparison
| S. No. | Face Value | Company Name | PE |
| 1 | 1 | Zomato Limited | 742.50 |
Swiggy IPO Promoter Holding
| Pre Issue Share Holding | 0.00% |
| Post Issue Share Holding | 0.00% |
Swiggy IPO Prospectus
Company Contact Information
| 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 Manager(s)
| 1. ICICI Securities Limited 2. BofA Securities India Limited 3. Jefferies India Private Limited 4. Avendus Capital Private Limited 5. J.P. Morgan India Private Limited 6. Kotak Mahindra Capital Company Limited 7. Citigroup Global Markets India Private Limited |
Swiggy IPO FAQs
| What is Swiggy IPO? Swiggy IPO is a main-board IPO. The issue is priced at ₹371 to ₹390 per equity share. The IPO is to be listed on BSE & NSE. |
| When Swiggy IPO will open? The IPO is to open on 06 November 2024 for QIB, NII, and Retail Investors. |
| What is Swiggy IPO Investors Portion? The investors’ portion for QIB – 75%, NII – 15%, and Retail – 10%. |
| How to Apply the Swiggy IPO? You can apply Swiggy IPO via ASBA online via your bank account. You can also apply for ASBA online via UPI through your stock brokers. You can also apply via your stock brokers by filling up the offline form. |
| How to Apply the Swiggy IPO through Angle One? Log in to Angle One Application with your credentials. Select the IPO. You will see the IPO Name “Swiggy IPO”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Angle One. |
| How to Apply the Swiggy IPO through 5 Paisa? Log in to 5 Paisa Application with your credentials. Select the IPO. You will see the IPO Name “Swiggy IPO“. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with 5 Paisa. |
| How to Apply the Swiggy IPO through Upstox? Log in to Upstox Application with your credentials. Select the IPO. You will see the IPO Name “Swiggy IPO”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Upstox. |
| How to Apply the Swiggy IPO through IIFL? Log in to IIFL Application with your credentials. Select the IPO. You will see the IPO Name “Swiggy IPO”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with IIFL. |
| What is Swiggy IPO Size? Swiggy IPO size is ₹11,327.43 Crore. |
| What is the Swiggy IPO Price Band? Swiggy IPO Price Band is ₹371 to ₹390. |
| What is Swiggy IPO Minimum and Maximum Lot Size for Retail? The minimum bid is 38 Shares with ₹14,820 amount while the maximum bid is 494 Shares with ₹1,92,660. |
| What is the Swiggy IPO Allotment Date? Swiggy IPO allotment date is 11 November 2024. |
| What is the Swiggy IPO Listing Date? Swiggy IPO listing date is 13 November 2024. The IPO is to be listed on BSE and NSE. |
