Swiggy Ltd IPO

Swiggy is a consumer first technology company offering users an easy-to-use convenience platform to browse, select, order and pay for food (Food Delivery), grocery and household items (Instamart), and have their orders delivered to their doorstep through on-demand delivery network. Its platform can be used to make restaurant reservations (Dineout) and for events bookings (SteppinOut), avail product pick-up/drop-off services (Genie) and engage in other hyperlocal commerce (Swiggy Minis, among others) activities. The Company augments the value proposition to users through its membership program Swiggy One, Swiggy Money, and Swiggy-HDFC Bank credit card.

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50years

Swiggy Ltd IPO Details

Details

Total Shares OfferedOffer to PublicRetail Max (Shares)Pre Issue Promoters HoldingExchangeIssue size
₹ 2,904.95 L₹ 1,750.88 L₹ 289.7 LTBABSE₹ 11327.43 Cr
IPO Open DateClose DateLot SizeMin InvestmentIssue TypeListing Date
06 Nov, 2408 Nov, 2438 ₹ 14,098 Book Building13 Nov, 24

Swiggy Ltd IPO Dates

  • 06 Nov 2024

    Opening date

  • 08 Nov 2024

    Closing date

  • 11 Nov 2024

    Basis of
    Allotment

  • 12 Nov 2024

    Initiation of
    Refunds

  • 12 Nov 2024

    Credit of
    Shares

  • 13 Nov 2024

    Listing date

Details

SectorType
SectorMiscellaneous
Sub SectorNA
Issue TypeBook Building

Subscription Status

*Values are in Lakhs

Investor TypeSubscription TimesShares Offered*Shares Bid*
QIB2.41x217272628523089494
NII0.41x4345452517901724
Retail1.14x2896968433079304
Employee1.65x7500001237470
Total1.98x290494914575307992

Subscription Status

Investor Type

QIB

NII

Retail

Employee

Total

*Values are in Lakhs

Swiggy Ltd Financial Status

Income Statement

Balance Sheet

Particulars (in Rs. Crores)FY23FY22FY21
Revenue from operations11,247.398,264.605,704.90
EBITDA-1,653.35-3,502.15-3,525.30
PAT-1,888.03-3,757.56-3,768.10
Total Assets1,985.661,766.361,957.00
Share Capital15,576.2715,565.2015,563.40
Total Borrowings957.50969.05697.90
Operating Activities (Net Cash)-1,770.69-3,629.85-3,646.70
Investing Activities (Net Cash)5,567.526,131.3910,348.00
Financing Activities (Net Cash)957.50969.05697.90
Net Cashflow787.13391.11981.60

Particulars (in Rs. Crores)

Revenue from operations

EBITDA

PAT

Total Assets

Share Capital

Total Borrowings

Operating Activities (Net Cash)

Investing Activities (Net Cash)

Financing Activities (Net Cash)

Net Cashflow

About Swiggy Ltd

Swiggy Limite was incorporated as `Bundl Technologies Private Limited' as a private limited company under the Companies Act, 1956, pursuant to the certificate of incorporation dated December 26, 2013, issued by the Registrar of Companies, Andhra Pradesh at Hyderabad. Subsequent to a change in its registered office from the state of Andhra Pradesh to the state of Karnataka pursuant to the Board resolution dated November 2, 2015, and the special resolution passed by its Shareholders on December 11, 2015, a fresh certificate of registration dated September 19, 2016, was issued by the Registrar of Companies, Karnataka at Bangalore (RoC). The Company changed its name to Swiggy Private Limited pursuant to the Board resolution dated January 25, 2024, and the special resolution dated February 19, 2024, further to which a fresh certificate of incorporation dated April 1, 2024 was issued by the Registrar of Companies, Office of the Central Processing Centre (RoC, CPC). The Company was subsequently converted into a public limited company pursuant to the Board resolution dated February 14, 2024 and the special resolution passed by its Shareholders on February 19, 2024 and the name of the Company was changed to `Swiggy Limited'. A fresh certificate of incorporation dated April 10, 2024 was accordingly issued by the RoC, CPC.

Evolving demographic structures are leading to Indian consumers not only shopping more, but also increasingly choosing digital channels for their purchases, and as a result, online commerce platforms have reached over 950 cities. This shift allows consumer-first technology platforms to engage with consumers at multiple touchpoints. Digitally-native consumers are creating an internet-based ecosystem across consumption categories leading to growth in online market. Hyperlocal, urban conveniencedriven, high-frequency commerce platforms stand out for consumers. Between 2018 and 2023, the online Food Delivery and Quick Commerce markets grew at CAGRs of ~42% and 148%-169%, respectively. Further there is significant increase in annual spending by users on online Food Delivery, which has increased from ~Rs.2,800-3,200 in 2018 to approximately Rs.7,500- 8,000 in 2023. The spend per user for Quick Commerce increased to ~Rs.13,400 in 2023 which was negligible in 2018.

Swiggy is a consumer first technology company offering users an easy-to-use convenience platform to browse, select, order and pay for food (Food Delivery), grocery and household items (Instamart), and have their orders delivered to their doorstep through on-demand delivery network. Its platform can be used to make restaurant reservations (Dineout) and for events bookings (SteppinOut), avail product pick-up/drop-off services (Genie) and engage in other hyperlocal commerce (Swiggy Minis, among others) activities. The Company augments the value proposition to users through its membership program Swiggy One, Swiggy Money, and Swiggy-HDFC Bank credit card.

Peer Comparison:

  • Zomato Ltd

Swiggy Ltd IPO Key Points

Strengths

  • Pioneers of high-frequency hyperlocal commerce categories driven by an innovation-led culture.
  • A consistently growing network of users.
  • Rising user engagement on its platform.
  • Swiggy brand delivered through a unified app with consistent user experience.
  • A preferred choice for restaurant partners, merchant partners, brand partners and delivery partners.

Risk

  • The company has incurred net losses in each year since incorporation and have negative cash flows from operations. If the company is unable to generate adequate revenue growth and manage its expenses and cash flows, the company may continue to incur significant losses.
  • If the company fails to retain its existing user base or fails to acquire new users in a cost-effective manner, its business, financial condition and results of operations could be adversely affected.
  • Attracting and retaining delivery partners is critical to its business, and failures to do so in a cost-effective way may have an adverse effect on its business, financial condition and results of operations.

Strategy

  • Retain and grow user base by expanding its offerings and growing its partner network.
  • Expand Dark Store footprint and basket-sizes for Quick Commerce.
  • Improve its contribution margin by scaling its operations, and expanding high margin offerings and revenue streams.
  • Invest in its technology backbone and optimise our last-mile network to enable efficient scaling of its operations to service more users.
  • Invest to enhance its brand recall, improve traffic on its app, and increase engagement across businesses.
  • Pioneers of high-frequency hyperlocal commerce categories driven by an innovation-led culture.
  • A consistently growing network of users.
  • Rising user engagement on its platform.
  • Swiggy brand delivered through a unified app with consistent user experience.
  • A preferred choice for restaurant partners, merchant partners, brand partners and delivery partners.

How To Apply for Swiggy Ltd IPO Online?

Step 1:

Log in to the BlinkX stock market app and click ‘IPO’ in the Xplore section.

Step 2:

From the list of open IPOs, select the IPO you want to invest.

Step 3:

Go through the IPO details like lot size, price band, about the company, etc.

Step 4:

Click ‘Apply IPO’ to apply and enter the number of lots and bidding price along with your UPI ID.

Step 5:

Confirm your bid and accept the payment mandate sent to your UPI App for completing the IPO application.

Get your FAQs right

Swiggy Ltd's IPO offers shares for up to ₹ 0.04 L It begins on Nov 6, 2024 and ends on Nov 8, 2024.

The price of Swiggy Ltd IPO ranges between ₹371 to ₹390 per share.

The Swiggy Ltd IPO opens on Nov 6, 2024 and closes on Nov 8, 2024.

The allotment for the Swiggy Ltd IPO will be finalised on Nov 11, 2024. The shares will be listed on BSE and NSE on Nov 13, 2024.

The minimum lot size for Swiggy Ltd IPO is 38 shares, priced between ₹371 to ₹390 per share.

The GMP (Grey Market Premium) of Swiggy Ltd IPO fluctuates based on market demand and sentiment.

To check the allotment status of Swiggy Ltd IPO, visit the registrar's website, select the IPO, enter your PAN Card number, Application Number, or DP Client ID, and click 'search.'

The Swiggy Ltd IPO is getting listed on the BSE and NSE. Bidding opens on Nov 6, 2024, and closes on Nov 8, 2024. The allotment is finalised on Nov 11, 2024.

To apply for the Swiggy Ltd IPO, download the BlinkX app, complete KYC, select the IPO, enter bid details, and submit. Verify UPI payment for shares allotment.