Swiggy Ltd. IPO

Swiggy IPO is a book-built issue worth Rs 11,327.43 crore, consisting of a fresh issue of 11.54 crore shares amounting to Rs 4,499 crore and an offer for sale (OFS) of 17.51 crore shares totaling Rs 6,828.43 crore. The IPO will open for subscription from November 6 to November 8, 2024, with allotment expected on November 11 and a tentative listing on November 13, 2024, on BSE and NSE. The price band is set at Rs 371-390 per share. Swiggy’s IPO aims to raise funds for growth initiatives, including expansion, branding, technology upgrades, and debt repayment.

RHP
View
DRHP
View
Open Date

2024-11-06

Close Date

2024-11-08

Swiggy Ltd. IPO Details

Check out the issue details for Swiggy Ltd. IPO as disclosed in SEBI.

IPO Price

₹ 390

Price Band

₹ 371 - 390

Issue Size

11327.43 Cr.

Issue Type

Book Built

Open

2024-11-06

Close

2024-11-08

Listingprice

₹ 420

ListingGain

7.69%

Listing Date

2024-11-13

CMP

₹ 464

Current Return

18.97%

Company Financials

You can get the following financial statements of Swiggy Ltd. as of now.

Swiggy IPO Details

The details about the Swiggy IPO are as follows:

  • The issue size of the IPO is 11327.43 Cr.
  • The price band for Swiggy IPO is Rs 371 to Rs 390.
  • The shares of Swiggy IPO will list on 13th November 2024.
  • The latest tentative GMP of Swiggy IPO is Rs 2.
  • The shares of Swiggy IPO are subscribed 3.59 Times.
  • Swiggy IPO listing gain is 7.69%.

 

Swiggy IPO Valuation

The approx valuation of Swiggy IPO based on its price band and DRHP (prospectus) is:

Particulars Value
Upper Price Band Rs 390
Existing Shares (Qty) 212.30 Cr
Fresh Issue 4499 Cr
Market Cap 87296 Cr
EPS (FY24) Rs -10.70
Industry PE 634.50x

 

Swiggy IPO Issue Size

Swiggy IPO issue size is 11327.43 Cr.

Issue Amount
Fresh Issue 4499 Cr
Offer For Sale 6828.43 Cr

 

Swiggy IPO Market Lot

An individual can apply for a minimum of 1 lot of 38 shares and a maximum of 13 lots of 494 shares. Find the details below:

Application Lot Shares Amount
Minimum 1 38 Rs 14,820
Maximum 13 494 Rs 1,92,660

 

Swiggy IPO Share Offer

The shares of Swiggy IPO are subscribed 3.59 Times. The category-wise shares offered are as follows:

Category % Offered
Qualified Institutional Maximum 75%
Non-Institutional Maximum 10%
Retail Individual Maximum 15%

 

Swiggy IPO GMP (Grey Market Premium)

As on GMP (Tentative)
8 November 2024 Rs 2

Swiggy IPO GMP is purely for informational purposes and invest in an IPO after thoroughly researching on your own.

 

Swiggy IPO: A Comprehensive Overview

Swiggy, the leading food delivery platform in India, has filed for an initial public offering (IPO) expected to be one of the most significant listings of 2024. Below is a detailed report covering all key information regarding Swiggy's IPO.

1. Key IPO Details of Swiggy

  • IPO Size: Rs 11,327.43 crore
     
  • Offer for Sale (OFS): 17.50 crore shares worth Rs 6828.43 crore by existing shareholders
     
  • Fresh Issue: Rs 4499 crore
     
  • Major Shareholders Participating in OFS:
    • Accel India
    • Tencent Europe
    • Prosus
    • Elevation Capital
    • DST EuroAsia
    • Inspired Elite Investments
    • Coatue PE Asia
    • Norwest Venture Partners
       
  • Non-Participating Investor: SoftBank will not be selling its shares in the IPO.
     
  • Valuation: Estimated around Rs 87296 Cr..
     
  • Listing Timeline: Swiggy IPO to list on 13 November 2024.
     
  • Stock Exchanges: Expected to list on NSE and BSE.


2. Use of Swiggy IPO Proceeds

Swiggy plans to use the funds raised from its IPO for several strategic purposes:

  • Dark Store Expansion (Instamart)

    • Rs 982 crore (26.2%) will be invested in expanding its dark store network, currently at 581 stores.
    • This will support the growth of Swiggy's quick-commerce vertical, Instamart.
       
  • Branding and Promotional Activities

    • Rs 929 crore (24.8%) will be allocated to enhancing digital marketing efforts.
    • This will include investments in brand building and promotional campaigns.
       
  • Technology and Infrastructure

    • Funds will be used to upgrade technology platforms and cloud infrastructure.
    • Potential acquisitions may also be explored using this allocation.
       
  • Debt Repayment

    • A portion of the proceeds will be directed toward repaying existing debt.

 

3. Market Competitiveness

Swiggy faces stiff competition from Zomato in food delivery and from BlinkIt and Zepto in the quick-commerce segment. Here’s how Swiggy compares:

  • BlinkIt (Quick Commerce):
    • Revenue: Rs 2,301 crore
    • Holds 60-65% of the quick-commerce market, more than Swiggy's Instamart.
       
  • Zepto:
    • Has a significant share in the quick-commerce market.
       
  • Zomato (Food Delivery):
    • Competes directly with Swiggy, with both platforms dominating food delivery in India.


4. Swiggy IPO Lead Bankers

Swiggy has appointed top-tier investment banks to manage its IPO, including:

  • Kotak Mahindra Capital
  • Citigroup Global Markets
  • J.P. Morgan India
  • BofA Securities
  • Jefferies India Private Ltd.
  • ICICI Securities Ltd.
  • Avendus Capital


5. Growth Strategies Post-IPO

Post-IPO, Swiggy aims to focus on several growth strategies to enhance its profitability and market position:

  • Increase Average Order Value: A key focus area to boost overall revenue.
     
  • Leverage Advertising Revenue: Utilizing ads on its platform to drive additional income streams.
     
  • Expansion of Quick Commerce (Instamart): Aiming to outpace competitors like BlinkIt and Zepto by expanding its dark store network to improve delivery speed and efficiency.
     
  • Branding and Marketing: Enhanced promotional activities to attract a broader consumer base.
     
  • Technology Investments: Further investment in upgrading technology platforms to ensure long-term scalability.


The Swiggy IPO represents a major milestone in India's food tech industry. As Swiggy looks to strengthen its quick-commerce arm, Instamart, and maintain its leadership in the food delivery market, the IPO will provide the necessary capital to drive growth. Despite operating at a loss, Swiggy's growth trajectory and ambitious expansion plans make this IPO an attractive opportunity for investors and a significant event in the food-tech industry.

Swiggy IPO Date

Find below the dates for Swiggy IPO:

Schedule Date
Basis of Allotment 11 November 2024
Refunds 12 November 2024
Credit to Demat Account 12 November 2024
IPO Listing Date 13 November 2024

Profit & Loss (All Figures in Cr. Adjusted EPS in Rs.)

PARTICULARS Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Net Sales 3287.5 2008 3557.1 4653.31 6372.3
Total Expenditure 6937.2 3033.9 6576.3 8730.28 8662.22
Operating Profit -3649.7 -1025.9 -3019.2 -4076.98 -2289.92
Other Income 261 137 489.1 708.04 644.29
Interest 82.4 73.7 43.2 28.06 22.47
Depreciation 195.1 202.9 121.4 127.71 117.34
Exceptional Items -102.3 -148.1 -1073.4 -232.86 -102.59
Profit Before Tax -3768.5 -1313.6 -3768.1 -3757.56 -1888.03
Provision for Tax 0 0 0 0 0
Net Profit -3768.5 -1313.6 -3768.1 -3757.56 -1888.03
Adjusted EPS (Rs.) -37685 -1313.6 -440.2 -141.42 -62.81

Balance Sheet (All Figures are in Crores.)

Particulars Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity and Liabilities
Share Capital 0.88 0.9 15563.4 15565.2 15576.27
Total Reserves 3135.2 2209.2 -2963.9 -5755.29 -6570.01
Borrowings 78.7 66.5 0 0 0
Other N/C liabilities 706.6 398.5 284.1 220.08 225.09
Current liabilities 567.52 606.11 1322.1 1447.65 1573.27
Total Liabilities 4488.9 3281.2 14205.7 11477.64 10804.62
Assets
Net Block 1123.8 550.1 409.3 893.81 753.77
Capital WIP 0 0 0 0 0
Intangible WIP 9.3 0 0 0 0
Investments 368.1 479.3 1280 1686.51 1970.32
Loans & Advances 105.7 253.1 1468.7 2663.61 2482.12
Other N/C Assets 60 40.2 22.7 22.46 15.55
Current Assets 2822 1958.5 11025 6211.25 5582.86
Total Assets 4488.9 3281.2 14205.7 11477.64 10804.62
* Other Non-current Liabilities include Net deferred Liabilities

Cash Flows (All Figures are in Crores.)

PARTICULARS Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Profit from operations -3768.5 -1313.6 -3768.1 -3757.56 -1888.03
Adjustment 287.3 492.4 1228.5 76.02 218.6
Changes in Assets & Liabilities -203.6 160 120.1 -157.17 256.16
Tax Paid -38 5.1 -51.6 -24.58 4.47
Operating Cash Flow -3722.8 -656.1 -2472.9 -3863.29 -1408.8
Investing Cash Flow 2984.3 772.1 -10727.6 3339.53 1851.56
Financing Cash Flow 913.5 9.7 13670.3 -60.45 -46.12
Net Cash Flow 175 125.7 469.8 -584.21 396.64
X