Swiggy Ltd IPO
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Swiggy Ltd IPO Details
Details
Total Shares Offered | Offer to Public | Retail Max (Shares) | Pre Issue Promoters Holding | Exchange | Issue size |
---|---|---|---|---|---|
₹ 2,904.95 L | ₹ 1,750.88 L | ₹ 289.7 L | TBA | BSE | ₹ 11327.43 Cr |
IPO Open Date | Close Date | Lot Size | Min Investment | Issue Type | Listing Date |
06 Nov, 24 | 08 Nov, 24 | 38 | ₹ 14,098 | Book Building | 13 Nov, 24 |
Swiggy Ltd IPO Dates
Details
Sector | Type |
---|---|
Sector | Miscellaneous |
Sub Sector | NA |
Issue Type | Book Building |
Subscription Status
*Values are in Lakhs
Investor Type | Subscription Times | Shares Offered* | Shares Bid* |
---|---|---|---|
QIB | 2.41x | 217272628 | 523089494 |
NII | 0.41x | 43454525 | 17901724 |
Retail | 1.14x | 28969684 | 33079304 |
Employee | 1.65x | 750000 | 1237470 |
Total | 1.98x | 290494914 | 575307992 |
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) | FY23 | FY22 | FY21 |
---|---|---|---|
Revenue from operations | 11,247.39 | 8,264.60 | 5,704.90 |
EBITDA | -1,653.35 | -3,502.15 | -3,525.30 |
PAT | -1,888.03 | -3,757.56 | -3,768.10 |
Total Assets | 1,985.66 | 1,766.36 | 1,957.00 |
Share Capital | 15,576.27 | 15,565.20 | 15,563.40 |
Total Borrowings | 957.50 | 969.05 | 697.90 |
Operating Activities (Net Cash) | -1,770.69 | -3,629.85 | -3,646.70 |
Investing Activities (Net Cash) | 5,567.52 | 6,131.39 | 10,348.00 |
Financing Activities (Net Cash) | 957.50 | 969.05 | 697.90 |
Net Cashflow | 787.13 | 391.11 | 981.60 |
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.