Swiggy Ltd. was incorporated on December 26, 2013. Swiggy is a consumer-first technology company providing a unified app for easy access to food delivery, groceries, and household items. It also facilitates restaurant reservations, event bookings, and various hyperlocal services. Launched in 2014, Swiggy has pioneered the hyperlocal commerce industry in the country, becoming a recognized leader in innovation, according to the Redseer report
| Bidding Dates |
|---|
| 06 Nov 2024 - 08 Nov 2024 |
| Subscription |
|---|
| 3.59x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹14,098 | 1 | 13 | 38 | 290.4 M | ₹371 - ₹390 | - | ₹107755.8 M - ₹113274.3 M | RHP DOC |
Swiggy Ltd. IPO SUBSCRIPTION STATUS
08 Nov '24Swiggy Ltd. IPO overall subscription rate was 3.59 times the total available shares
Swiggy Ltd. IPO retail subscription rate was 1.14 times in the retail segment
Swiggy Ltd. IPO non-institutional investor subscription rate was 0.41 times in the non-institutional investor category
Swiggy Ltd. IPO Qualified Institutional Bidder subscription rate was 6.02 times the available shares for Qualified Institutional Bidder
Swiggy Ltd. IPO Employees subscription rate was 1.65 times in the Employees category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers | Employees |
|---|---|---|---|---|
| Category Reservation | 10% | 15% | 75% | - |
08 Nov 2024 (Day 3) | 1.14x | 0.41x | 6.02x | 1.65x |
07 Nov 2024 (Day 2) | 0.84x | 0.14x | 0.28x | 1.15x |
06 Nov 2024 (Day 1) | 0.54x | 0.06x | - | 0.74x |
Swiggy Ltd. FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) |
| Q1FY25 | -6,110.1 | 32,222.2 | -5,166.3 | -5,856.2 |
| Q1FY24 | -5,640.8 | 23,898.2 | -1,737.8 | -2,561.8 |
| FY24 | -23,502.4 | 112,473.9 | -13,127.4 | -16,567.5 |
| FY23 | -41,793.1 | 82,646.0 | -40,599.1 | -42,172.0 |
| FY22 | -36,289.0 | 57,049.0 | -39,003.9 | -41,278.2 |
Swiggy Ltd. IPO SUBSCRIPTION STATUS DETAILS
Swiggy Ltd. had 290.4 M shares on offer
Swiggy Ltd. IPO offer price was in the range ₹371 - ₹390
Swiggy Ltd. IPO minimum Investment was ₹14098
Swiggy Ltd. IPO issue size was ₹ 107755.8 M - ₹ 113274.3 M
Swiggy Ltd. had a minimum lot size of 38 Shares per application
Swiggy Ltd. NUMBER OF SHARES ON OFFER
Swiggy Ltd. IPO IMPORTANT DATES
| Issue Open Date | 06 Nov 2024 |
| Issue close Date | 08 Nov 2024 |
| Allotment Date | 11 Nov 2024 |
| Refund Date | 12 Nov 2024 |
| Demat Account Credit Date | 12 Nov 2024 |
| Listing Date | 13 Nov 2024 |
| Listing on Exchange(s) | NSE and BSE |
| Swiggy Ltd. Allotment Status | Exchange |
Swiggy Ltd. IPO subscription opened on 06 Nov 2024, and closed on 08 Nov 2024
IPO allotment for Swiggy Ltd. was finalized on Monday, 11 Nov 2024
IPO listing for Swiggy Ltd. was on NSE and BSE on Wednesday, 13 Nov 2024
Swiggy Ltd. IPO LISTING GAINS
| Issue Price (adjusted) | 390.0 |
| Listing Open Price | 420.0 |
| Listing Close Price | 456.0 |
| Listing Gain% | 7.7% |
| Current Gain% | -28.0% |
Swiggy Ltd. Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Swiggy Ltd. | 280.8 | 62843.8 | -20.7 | 16.9 | 3.1 | -22.7 | -16.4 | 23561 | 50.8 | -4154 | -33.3 | -13.6 | -1.2 |
| Eternal Ltd. | 315 | 303986 | 702 | 15.7 | 4.5 | 1.2 | 0.9 | 55760 | 161.5 | 366 | -30.6 | 0.4 | 44.8 |
| FSN E-Commerce Ventures Ltd. | 332 | 95081.1 | 371.2 | 1.7 | 8.9 | 13.9 | 4.3 | 10055.1 | 26.1 | 199.4 | 201.8 | 0.9 | 221.1 |
| Meesho Ltd. | 191.4 | 88472 | -73.7 | 6.4 | -31 | -17.2 | 13099.1 | 32.3 | -1357.7 | 65.6 | -2.6 | ||
| Info Edge (India) Ltd. | 1225.3 | 79451 | 54.8 | 1.1 | 24.2 | 3.8 | 3 | 4343.3 | 10.7 | 1449.8 | 50.7 | 22.4 | 50.7 |
| CarTrade Tech Ltd. | 2793 | 13497.6 | 58.3 | 1.2 | 16.7 | 9 | 7.4 | 869.8 | 22.3 | 223 | 65.6 | 47.9 | 49 |
Swiggy Ltd. INFORMATION ON IPO ISSUE
About Swiggy Ltd.
Swiggy Ltd. was incorporated on December 26, 2013. Swiggy is a consumer-first technology company providing a unified app for easy access to food delivery, groceries, and household items. It also facilitates restaurant reservations, event bookings, and various hyperlocal services. Launched in 2014, Swiggy has pioneered the hyperlocal commerce industry in the country, becoming a recognized leader in innovation, according to the Redseer report
Object of the Issue
- 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, expansion of their dark store network for their quick commerce segment through setting up of dark stores and 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 their platform, across its segments
- Funding inorganic growth through unidentified acquisitions and general corporate purposes
Swiggy Ltd. - PROMOTERS
| Name |
|---|
| Anand Kripalu |
| Sriharsha Majety |
| Lakshmi Nandan Reddy Obul |
| Shailesh Vishnubhai Haribhakti |
| Sahil Barua |
| Suparna Mitra |
Swiggy Ltd. Book Running Lead Manager
Kotak Mahindra Capital Company Limited
swiggy.ipo@kotak.com
J.P. Morgan India Private Limited
SWIGGY_IPO@jpmorgan.com
Citigroup Global Markets India Private Limited
swiggyipo@citi.com
BofA Securities India Limited
dg.swiggy_ipo@bofa.com
Jefferies India Private Limited
Swiggy.IPO@jefferies.com
ICICI Securities Limited
swiggy.ipo@icicisecurities.com
Avendus Capital Private Limited
swiggy.ipo@avendus.com
Swiggy Ltd. Registrar to the Offer
Link Intime India Private Limited
swiggy.ipo@linkintime.co.in
Swiggy Ltd. Strengths
Consistent growth
The company's unified app, expanding offerings, and broad network of partners drive greater selection and faster delivery, enhancing user experience and encouraging more transactions. This has led to consistent growth in monthly transacting users for both food delivery and quick commerce, as well as overall platform use
A preferred choice
The company's scale, unified app approach with adjacent categories, and engaged user base create meaningful opportunities for restaurant, merchant, and brand partners to connect with users at low incremental costs. It uses a consultative approach to offer partners various business solutions for establishing an online presence, running targeted ads, and promoting new products to boost sales and provide personalized recommendations
Swiggy Ltd. Risks
Competition
The company faces intense competition in its markets, and failure to compete effectively could adversely impact its business, financial condition, and operational results
Timely response
If restaurant and merchant partners fail to promptly address changing user preferences or maintain high-quality offerings, user engagement on the platform could decline, leading to decreased demand and potential revenue losses
Techical issues
The uninterrupted functioning of the company's technology platform is crucial for business. Any system failures or disruptions to their website or app could negatively impact its financial condition and operational results
IPO FAQs
This IPO consists of an offer for sale of up to Rs 6,828.4 crore, of 175,087,863 shares. It also consists of a fresh issue of Rs 4,499.0 crore.
The promoters of the company are Anand Kripalu, Sriharsha Majety, Lakshmi Nandan Reddy Obul, Shailesh Vishnubhai Haribhakti, Sahil Barua and Suparna Mitra.
The category allocation of qualified institutional buyers is 75.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 10.0%.
The price band of the IPO is Rs 371.0 - 390.0.
The IPO application opens on Nov 06, 2024 and closes on Nov 08, 2024.
The minimum lot size for the IPO is 38. The maximum lot size for the IPO is 494.
For all category investors, the minimum application amount for this IPO is Rs. 14,098.0, the maximum value for this IPO is Rs 192,660.0.
This IPO will be allotted on Nov 11, 2024.
The refund will be credited to your account on Nov 12, 2024.
The allotted shares will be credited to your demat on Nov 12, 2024.
Swiggy Ltd.’s shares listed on the stock exchanges on Nov 13, 2024.