Swiggy Limited IPO

NiftyTrader • November 6, 2024

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Swiggy Limited IPO opens for subscription on November 6, 2024 and closes on November 8, 2024. The allotment for the Swiggy IPO is expected to be finalized on Monday, November 11, 2024. Swiggy IPO will list on BSE, NSE with tentative listing date fixed as Wednesday, November 13, 2024.

Swiggy IPO price band is set at ₹371 to ₹390 per share. The minimum lot size for an application is 38 Shares. The minimum amount of investment required by retail investors is ₹14,820. The minimum lot size investment for sNII is 14 lots (532 shares), amounting to ₹207,480, and for bNII, it is 68 lots (2,584 shares), amounting to ₹1,007,760.

Swiggy IPO is a book built issue of Rs 11,327.43 crores. The issue is a combination of fresh issue of 11.54 crore shares aggregating to Rs 4,499.00 crores and offer for sale of 17.51 crore shares aggregating to Rs 6,828.43 crores.

Swiggy IPO Details

IPO Date	November 6, 2024 to November 8, 2024
Listing Date	[.]
Face Value	₹1 per share
Price	₹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 of ₹1 (aggregating up to ₹6,828.43 Cr)
Issue Type	Book Built Issue IPO
Listing At	BSE, NSE
Shareholding pre-issue	2,123,066,748
Shareholding post-issue	2,238,425,722
Employee Discount	Rs 25 per share

Swiggy IPO Lot Size

Investors can bid for a minimum of 38 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.

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 Objectives

The company proposes to utilize the Net Proceeds towards funding the following objects:

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 (a) expansion of Dark Store network for Quick Commerce segment through setting up of Dark Stores; and (b) 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 its platform, across segments; and
Funding inorganic growth through unidentified acquisitions and general corporate purposes.

About Swiggy Limited

Swiggy Limited, founded in 2014, operates as a multi-service platform accessible via a single app, enabling users to order food (Food Delivery), groceries, and household items (Instamart), with deliveries facilitated by an on-demand network. Its business comprises five units: Food Delivery; Out-of-Home Consumption, which covers restaurant visits and event bookings; Quick Commerce for on-demand grocery and household delivery; Supply Chain and Distribution, offering B2B deliveries, logistics, and warehousing for wholesalers and retailers; and Platform Innovation, which includes Swiggy Genie for pickups and deliveries, Swiggy Minis for hyperlocal commerce, Dineout for restaurant reservations, and SteppinOut for event bookings. The company’s Swiggy One membership offers discounts, while in-app payment solutions such as Swiggy Money (a digital wallet), Swiggy UPI, and a Swiggy-HDFC credit card enhance convenience. For merchant and brand partners, Swiggy provides analytics-based business tools and fulfillment solutions for online visibility and streamlined supply chains. By mid-2024, Swiggy’s Instamart carried around 19,000 SKUs, including essentials, impulse buys, recurring household items, ad hoc purchases, and festival-related products, operating through a network of over 600 Dark Stores across 43 Indian cities. As of June 2024, Swiggy employed 5,401 people.

Swiggy Limited Financial Information

Period Ended	30 Jun 2024	31 Mar 2024	31 Mar 2023	31 Mar 2022
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	-3,628.9
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	-3,311.1
Total Borrowing	256.61	211.19
				Amount in ₹ Crore

Swiggy IPO Timeline

Swiggy IPO opens on November 6, 2024, and closes on November 8, 2024.

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
A credit of Shares to Demat	Tuesday, November 12, 2024
Listing Date	Wednesday, November 13, 2024
Cut-off time for UPI mandate confirmation	5 PM on November 8, 2024