Swiggy Limited IPO (Swiggy IPO) Detail

Swiggy IPO is a book built issue of Rs 11,327.43 crores. The issue is a combination of fresh issue of 11.54 crore shares aggregating to Rs 4,499.00 crores and offer for sale of 17.51 crore shares aggregating to Rs 6,828.43 crores.
Swiggy IPO opens for subscription on November 6, 2024 and closes on November 8, 2024. The allotment for the Swiggy IPO is expected to be finalized on Monday, November 11, 2024. Swiggy IPO will list on BSE, NSE with tentative listing date fixed as Wednesday, November 13, 2024.
Swiggy IPO price band is set at ₹371 to ₹390 per share. The minimum lot size for an application is 38 Shares. The minimum amount of investment required by retail investors is ₹14,820. The minimum lot size investment for sNII is 14 lots (532 shares), amounting to ₹207,480, and for bNII, it is 68 lots (2,584 shares), amounting to ₹1,007,760.
The issue includes a reservation of up to 750,000 shares for employees offered at a discount of Rs 25 to the issue price.
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 of the Swiggy IPO, while Link Intime India Private Ltd is the registrar for the issue.
Refer to Swiggy IPO RHP for detailed information.
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 | 38 Shares |
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) |
Employee Discount | Rs 25 per share |
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 Reservation
Investor Category | Shares Offered |
---|---|
QIB Shares Offered | Not less than 75% of the Net Issue |
Retail Shares Offered | Not more than 10% of the Net Issue |
NII (HNI) Shares Offered | Not more than 15.00% of the Net Issue |
Swiggy IPO Timeline (Tentative Schedule)
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 Lot Size
Investors can bid for a minimum of 38 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
Application | Lots | Shares | Amount |
---|---|---|---|
Retail (Min) | 1 | 38 | ₹14,820 |
Retail (Max) | 13 | 494 | ₹192,660 |
S-HNI (Min) | 14 | 532 | ₹207,480 |
S-HNI (Max) | 67 | 2,546 | ₹992,940 |
B-HNI (Min) | 68 | 2,584 | ₹1,007,760 |
Lot Size Calculator |
Swiggy IPO Promoter Holding
The Company does not have an identifiable promoter in terms of the SEBI ICDR Regulations and the Companies Act.
Share Holding Pre Issue | 63.56% |
Share Holding Post Issue |
About Swiggy Limited
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.
Company Financials
Swiggy Limited Financial Information (Restated Consolidated)
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 |
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 |
- 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.
Objects of the Issue (Swiggy IPO Objectives)
The company proposes to utilize the Net Proceeds towards funding the following objects:
- 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 Review (May apply)
[Dilip Davda] The company is an emerging e-commerce and food delivery related technology driven service provider. It posted steady growth in its top lines for the reported periods, but reported losses for all the while. Based on its financial performance, the IPO is having negative P/E and aggressive pricing based on other parameters. The management is confident of turning its operations profitable in coming few years with the strategy implied and with the funds from the IPO, hopes to scale up all offerings. Well-informed/cash surplus/risk seekers may park moderate funds for long term. Read detail review…
Swiggy IPO Prospectus
Swiggy IPO Rating

Swiggy Limited Contact Details
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
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)
- Kotak Mahindra Capital Company Limited (Past IPO Performance)
- Citigroup Global Markets India Private Limited (Past IPO Performance)
- Jefferies India Private Limited (Past IPO Performance)
- Avendus Capital Pvt Ltd (Past IPO Performance)
- J.P. Morgan India Private Limited (Past IPO Performance)
- Bofa Securities India Limited (Past IPO Performance)
- ICICI Securities Limited (Past IPO Performance)
Lead Manager Reports
Swiggy IPO FAQs
Swiggy IPO is a main-board IPO of 290,446,837 equity shares of the face value of ₹1 aggregating up to ₹11,327.43 Crores. The issue is priced at ₹371 to ₹390 per share. The minimum order quantity is 38 Shares.
The IPO opens on November 6, 2024, and closes on November 8, 2024.
Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.