Swiggy IPO to Launch on November 6: Details on Fresh Issue and Offer for Sale
Swiggy is set to go public with a book-built IPO, aiming to raise ₹11,327.43 crore. The offering combines a fresh issue of 11.54 crore shares totaling ₹4,499 crore, along with an offer for sale of 17.51 crore shares valued at ₹6,828.43 crore.
The subscription window opens on November 6, 2024, and will remain open until November 8, 2024. The IPO allotment is expected to be finalized on Monday, November 11, with Swiggy anticipated to list on both BSE and NSE on Wednesday, November 13, 2024.
The price band for Swiggy’s IPO is set between ₹371 and ₹390 per share. Retail investors can participate with a minimum lot size of 38 shares, requiring an investment of at least ₹14,820. For sNII investors, the minimum investment stands at ₹207,480 for 532 shares (14 lots), while bNII investors will need ₹1,007,760 for 2,584 shares (68 lots).
Additionally, Swiggy has reserved up to 750,000 shares for employees, offering them a ₹25 discount on the issue price.
| Swiggy IPO Details | Information |
|---|---|
| IPO Date | November 6, 2024 to November 8, 2024 |
| Listing Date | November 13, 2024 |
| 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 (aggregating up to ₹6,828.43 Cr) |
| Employee Discount | ₹25 per share |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Shareholding Pre-Issue | 2,123,066,748 |
| Shareholding Post-Issue | 2,238,425,722 |
| Swiggy IPO Reservation | 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% of the Net Issue |
| Swiggy IPO Timeline (Tentative Schedule) | Date |
|---|---|
| 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 Accounts | 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 | 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 |
| Swiggy IPO Promoter Holding | Percentage |
|---|---|
| Shareholding Pre-Issue | 63.56% |
| Shareholding Post-Issue | To be updated |
Note: Swiggy Limited does not have an identifiable promoter as per SEBI ICDR Regulations and the Companies Act.
Swiggy Limited: Company Profile
Overview
Founded in 2014, Swiggy Limited is one of India’s leading on-demand delivery platforms, offering customers a seamless experience for food, grocery, and household needs through a single, intuitive app. Users can easily search, select, order, and pay for items, with deliveries fulfilled by Swiggy’s extensive network of delivery partners. Swiggy operates across five main business segments, delivering convenience to customers while supporting merchants with comprehensive solutions for growth.
Business Segments
- Food Delivery: Swiggy’s core offering, allowing users to order from a vast network of restaurants with doorstep delivery.
- Out-of-Home Consumption: Includes reservations for restaurant visits (Dineout) and event bookings (SteppinOut), catering to customers’ leisure and dining needs.
- Quick Commerce (Instamart): An on-demand grocery and household item delivery service, featuring thousands of SKUs and a robust network of “dark stores” for rapid order fulfillment.
- Supply Chain and Distribution: Business-to-business (B2B) logistics, warehousing, and distribution services for wholesalers and retailers, streamlining supply chains across markets.
- Platform Innovation: Encompasses new initiatives like Swiggy Genie (for pickups and deliveries) and Swiggy Minis (hyperlocal commerce).
Key Offerings
- Swiggy One: A membership program offering discounts and exclusive deals.
- In-App Payment Solutions: Includes “Swiggy Money” digital wallet, “Swiggy UPI,” and the Swiggy-HDFC Bank credit card, providing benefits and a secure transaction experience.
- Business Enablement for Partners: Swiggy empowers restaurant, merchant, and brand partners with analytics-driven tools to enhance online visibility, streamlined fulfillment services, and efficient last-mile delivery.
Grocery Selection and Instamart
Swiggy Instamart provides access to approximately 19,000 SKUs of grocery and household items as of June 2024. This wide range includes essentials (e.g., eggs, bread, produce), impulse buys (e.g., snacks, quick meals), recurring household items (e.g., shampoo, soap), ad hoc needs (e.g., hygiene and pharmaceutical items), and festival-related items. As of September 2024, Instamart operates 605 dark stores across 43 cities in India.
Company Scale and Workforce
With a network of 605 active dark stores and 5,401 employees as of mid-2024, Swiggy has built a strong infrastructure to support its operations and maintain rapid service delivery, fueling growth across India’s urban centers.
| Swiggy Limited Financial Information (Restated Consolidated) | 30 Jun 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | ₹10,341.24 Cr | ₹10,529.42 Cr | ₹11,280.65 Cr | ₹14,405.74 Cr |
| Revenue | ₹3,310.11 Cr | ₹11,634.35 Cr | ₹8,714.45 Cr | ₹6,119.78 Cr |
| Profit After Tax (PAT) | -₹611.01 Cr | -₹2,350.24 Cr | -₹4,179.31 Cr | -₹3,628.9 Cr |
| Net Worth | ₹7,444.99 Cr | ₹7,791.46 Cr | ₹9,056.61 Cr | ₹12,266.91 Cr |
| Reserves and Surplus | -₹7,750.85 Cr | -₹7,880.85 Cr | -₹6,510.34 Cr | -₹3,311.1 Cr |
| Total Borrowing | ₹256.61 Cr | ₹211.19 Cr |
Note: All figures are in ₹ Crore. Swiggy Limited’s revenue increased by 34%, and PAT rose by 44% between FY 2023 and FY 2024.
Swiggy IPO: Top 25 FAQs
- What are the dates for the Swiggy IPO?
The Swiggy IPO opens on November 6, 2024 and closes on November 8, 2024. - What is the Swiggy IPO price band?
The Swiggy IPO price band is set at ₹371 to ₹390 per share. - What is the Swiggy IPO face value of shares?
The face value for Swiggy IPO shares is ₹1 per share. - What is the minimum lot size for Swiggy IPO?
The minimum lot size for retail investors is 38 shares. - How much is the minimum investment in Swiggy IPO for retail investors?
Retail investors can apply with a minimum investment of ₹14,820. - What is the total issue size of the Swiggy IPO?
The Swiggy IPO total issue size is 290,446,837 shares, aggregating up to ₹11,327.43 crore. - How is the Swiggy IPO issue split?
The Swiggy IPO consists of a fresh issue of 115,358,974 shares (₹4,499.00 crore) and an offer for sale of 175,087,863 shares (₹6,828.43 crore). - When will the Swiggy IPO allotment be finalized?
The basis of allotment for Swiggy IPO is expected to be finalized on November 11, 2024. - When will the refunds for Swiggy IPO be initiated?
Refunds for Swiggy IPO will be initiated on November 12, 2024. - When will the Swiggy IPO shares be credited to Demat accounts?
Swiggy IPO shares are expected to be credited to Demat accounts by November 12, 2024. - What is the listing date for Swiggy IPO?
Swiggy IPO listing is tentatively scheduled for November 13, 2024 on BSE and NSE. - Is there any discount for employees in the Swiggy IPO?
Yes, employees are offered a ₹25 discount per share on the Swiggy IPO price. - What percentage of Swiggy IPO shares are reserved for QIBs?
Not less than 75% of the net issue in Swiggy IPO is reserved for QIBs (Qualified Institutional Buyers). - What is the reservation for retail investors in Swiggy IPO?
Up to 10% of the Swiggy IPO net issue is reserved for retail investors. - How much is the NII/HNI reservation in the Swiggy IPO?
Not more than 15% of the Swiggy IPO is reserved for NII (Non-Institutional Investors) / HNI. - What are the minimum and maximum bids for S-HNI and B-HNI in Swiggy IPO?
- S-HNI minimum bid: 14 lots (532 shares) = ₹207,480
- S-HNI maximum bid: 67 lots (2,546 shares) = ₹992,940
- B-HNI minimum bid: 68 lots (2,584 shares) = ₹1,007,760
- Does Swiggy have a promoter?
Swiggy does not have an identifiable promoter according to SEBI ICDR Regulations and the Companies Act. - What is Swiggy’s pre-IPO and post-IPO shareholding percentage?
Pre-IPO shareholding is 63.56%. Post-IPO shareholding will be updated after the allotment. - How much has Swiggy’s revenue increased over the last fiscal year?
Swiggy’s revenue grew by 34% between FY 2023 and FY 2024. - How much did Swiggy improve in Profit After Tax (PAT) year over year?
Swiggy’s PAT rose by 44% from FY 2023 to FY 2024. - What are Swiggy’s assets and net worth as of June 2024?
- Assets: ₹10,341.24 crore
- Net Worth: ₹7,444.99 crore
- What is Swiggy Instamart’s reach as of September 2024?
Swiggy Instamart operates across 43 cities with 605 dark stores. - What are the UPI mandate confirmation cut-off times for Swiggy IPO?
The cut-off time for UPI mandate confirmation is 5 PM on November 8, 2024. - What are Swiggy’s key offerings beyond food delivery?
Swiggy offers Instamart for grocery, Swiggy Genie for pickups and deliveries, Dineout for reservations, and SteppinOut for events. - What are the primary payment solutions offered by Swiggy?
Swiggy’s in-app payment solutions include Swiggy Money, Swiggy UPI, and the Swiggy-HDFC Bank credit card with exclusive benefits.
Disclaimer: The information provided in this blog is for informational purposes only and should not be considered as investment advice. Readers are advised to perform their own research and consult with financial experts before making any investment decisions. Please note that BajajCapitalAdvisor has not been involved in any capacity with Swiggy regarding the processing of this IPO. The details provided are based on publicly available information at the time of writing.
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