Swiggy Limited IPO (Swiggy IPO) Detail

Swiggy Limited IPO (Swiggy IPO) Detail

November 6, 2024 – November 8, 2024

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 LimitedCitigroup Global Markets India Private LimitedJefferies India Private LimitedAvendus Capital Pvt LtdJ.P. Morgan India Private LimitedBofa 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
Note:

  • 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:

  1. Investment in the Material Subsidiary, Scootsy, for repayment or pre-payment, in full or in part, of certain or all of its borrowings;
  2. 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;
  3. Investment in technology and cloud infrastructure;
  4. Brand marketing and business promotion expenses for enhancing the brand awareness and visibility of its platform, across segments; and
  5. 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

17
3.2
Rating:Rated 3.2 stars
Vote Here …

Swiggy Limited 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
Websitehttps://www.swiggy.com/

Swiggy IPO Registrar

Link Intime India Private Ltd

Phone: +91-22-4918 6270
Email: swiggy.ipo@linkintime.co.in
Websitehttps://linkintime.co.in/initial_offer/public-issues.html

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.

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