SWIGGY LIMITED (MAINBOARD)

Nov 6, 2024 - Nov 8, 2024

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IPO Details 

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 of (aggregating up to 6,828.43 Cr)
Issue Type	Book Built Issue IPO
Listing At	BSE, NSE
Share holding pre issue	2,123,066,748
Share holding post issue	2,238,425,722

IPO Reservation

Investor Category	Shares Offered
QIB Shares Offered	Not more than 75% of the Net Issue
Retail Shares Offered	Not less than 10% of the Net Issue
NII (HNI) Shares Offered	Not more than 15% of the Net Issue

Key Performance Indicators

KPI	Jun-24	Mar-24	Mar-23
RONW	-8.21%	-30.16%	-46.15%
EPS (basic)	-2.7	-10.7	-19.33
P/E Pre IPO	-35.23
P/E Post IPO	-35.72

Financial Statement (Restated)

Period Ended	Jun-24	Mar-24	Mar-23	Mar-22
Assets	10,341.24	10,529.42	11,280.65	14,405.74
Revenue	3,310.11	11,634.35	8,714.45	6,119.78
Profit After Tax	-611.01	-2,350.24	-4,179.31	-3,628.90
Net Worth	7,444.99	7,791.46	9,056.61	12,266.91
Reserves and Surplus	-7,750.85	-7,880.85	-6,510.34	-3,311.10
Total Borrowing	256.61	211.19
Amount in Crore

About Company

Swiggy Limited, founded in 2014, is a leading platform offering food delivery, grocery (Instamart), and household goods, with services spanning restaurant reservations (Dineout), event bookings (SteppinOut), and hyperlocal deliveries (Genie, Swiggy Minis). The company operates five business units: Food Delivery, Out-of-home consumption, Quick Commerce, B2B supply chain and distribution, and platform innovation. It offers a wide selection of approximately 19,000 grocery SKUs and operates 605 active dark stores across 43 cities in India as of September 2024. Swiggy also provides restaurant and merchant partners with business enablement tools, and its membership program "Swiggy One" offers exclusive discounts. As of June 30, 2024, Swiggy employed 5,401 people.

ICICI Securities Limited
Kotak Mahindra Capital Company Limited
Citigroup Global Markets India Private Limited
Jefferies India Private Limited
Bofa Securities India Limited
Avendus Capital Pvt Ltd
J.P. Morgan India Private Limited

Pioneering Hyperlocal Commerce: Swiggy was among the first to establish hyperlocal commerce in India, launching food delivery in 2014 and quick commerce in 2020. Its innovation-led culture has positioned it as a leader in this space, recognized for continuous ideation and improvement.

Expanding User Base: As of June 30, 2024, Swiggy had 112.73 million ever transacted users, driven by its wide array of offerings and extensive partner network, enhancing user experience with faster delivery and greater selection.

High User Engagement: Swiggy's unified app and frequent-use services contribute to rising engagement, with an average monthly order frequency of 4.50 times in 2024, demonstrating strong user loyalty and regular interaction with the platform.

Sustained Losses and Negative Cash Flow: Swiggy has incurred net losses since its inception and continues to face negative cash flows from operations, which could persist if it fails to achieve sufficient revenue growth and manage costs effectively.

User Retention and Acquisition: The company’s ability to retain its existing users and acquire new ones in a cost-effective manner is critical. Failure in these areas could negatively impact its business and financial health.

Delivery Partner Dependency: Swiggy’s success depends heavily on attracting and retaining delivery partners. Inability to do this cost-effectively may harm its business operations and financial condition.