Swiggy IPO, Financials, Date, Share Price

Swiggy IPO will open on November 6, 2024, and close on November 8, 2024. The company started in 2014 has now become a known brand in the online food and grocery delivery space. It is interesting to see how Swiggy share price will fare in the market when it gets listed. So, let’s get into the details of Swiggy IPO date, its financials, and its comparison with listed-peer Zomato.

Swiggy IPO Date 2024

The important dates related to Swiggy IPO are:

• Bidding Opening Date: November 6, 2024
• Bidding Closing Date: November 8, 2024
• Allotment Date: November 11, 2024
• Initiation of Refunds (in case of less or no allotment): November 12, 2024
• Shares Credited to Your Demat Account: November 12, 2024
• IPO Listing Date: November 13, 2024
• Listing on Exchange: NSE and BSE
• Anchor Investor Bidding Date: November 5, 2024

Swiggy IPO Details

Swiggy IPO total issue size is ₹11,327.43 crores including both the fresh issue and offer for sale (OFS) component. There are 10 corporate selling shareholders including MIH India Food Holdings, Accel India IV (Mauritius), Elevation Capital V, etc. Individual selling shareholders are Lakshmi Nandan Reddy Obul, Rahul Jaimini, Samina Hamied, and Sriharsha Majety.

Here are the key details of Swiggy IPO:

• Swiggy IPO Price Band: ₹371 to ₹390 per share
• Face Value: ₹1 per share
• Swiggy IPO Lot Size (Expected): 38 shares
• Total Issue Size and Amount: 29,04,46,837 shares (amounting to ₹11,327.43 crores)
• Fresh Issue Size and Amount: 11,53,58,974 shares (amounting to ₹4,499 crores)
• OFS Size and Amount: 17,50,87,863 shares of ₹1 each (amounting to ₹6,828.43 crores)
• Listing on Exchange: NSE and BSE

Swiggy IPO Net Proceeds Usage

Swiggy IPO red herring prospectus has proposed to use the net proceeds in the following ways:

• ₹164.80 crores to be invested in material subsidiary, Scootsy for repayment or pre-payment of its certain loans.
• ₹1,178.70 crores to be invested in Scootsy for expansion of the dark store network and making lease or license payments for dark stores.
• ₹703.40 crores to be invested in tech and cloud infrastructure.
• ₹1,115.30 crores for covering brand marketing and brand promotion expenses.
• Remaining for funding inorganic growth through acquisitions and general corporate purposes.

Swiggy IPO Reservations

Swiggy IPO reservations to different investors are:

• For QIBs: Not less than 75% of the net offer
• For NIIs: Not more than 15% of the net offer
• For Retail Investors: Not more than 10% of the net offer
• Swiggy IPO Shareholder Quota: As far as Swiggy IPO shareholder quota is concerned, there will be no provision for that.

Swiggy: About the Business

Swiggy App, an on-demand food delivery app, provides benefits to customers to search, order, and take home delivery of food, groceries, and daily household items. Various offerings of the Swiggy are food delivery, Instamart (grocery and household items), Dineout (for restaurant reservations), SteppinOut (for events bookings), Genie (product pick-up or dropoff services), and other hyperlocal commerce (Swiggy Minis) activities.

The key strengths of this IPO are being the very first one to enter the hyperlocal commerce platforms space, growing network of users, rising user engagement on the platform, etc. In 2024, the Swiggy platform crossed 11 crore of transacted users for the first time.

Swiggy IPO: Financials

Swiggy’s key financials for Q1 FY25 and Q1 FY24 are as follows:

Particulars	30 June 2024	30 June 2023	YoY Change
Revenue	3,310.11	2,509.65	31.90%
Profit After Tax	-611.01	-564.08	8.32%
Assets	10,341.24	11,186.87	-7.56%
Total Cash and Cash Equivalents	836.49	1,220.26	-31.45%

*(in ₹ crores)

• In the Q1 FY25 (for the April-June 2024 quarter), the company’s revenue increased by 31.90% on a year-on-year basis. However, the losses expanded by 8.32% YoY in Q1 FY25.
• Assets fell down by 7.56% and total cash also dropped by 31.45% YoY in the first quarter of FY25.

Swiggy IPO: Segment Performance

The company’s segment performance over the periods is as follows:

Swiggy Platform	30 June 2024	30 June 2023	YoY Change
B2C GOV	10,189.59	8,277.19	23.10%
Consolidated Gross Revenue	3,477.29	2,693.85	29.08%
Consolidated Adjusted EBITDA	-347.80	-486.90	-28.57%
Food Delivery
GOV	6,808.34	5,958.74	14.26%
Gross Revenue	1,729.63	1,454.53	18.91%
Out-of-Home Consumption
GOV	657.20	576.93	13.91%
Gross Revenue	46.70	31.13	50.05%
Quick Commerce
GOV	2,724.05	1,741.52	56.42%
Gross Revenue	403.39	212.31	90.00%

*(in ₹ crores)

• Swiggy Platform’s Gross Order Value (GOV) and gross revenue increased by more than 20% on a year-on-year basis in Q1 of FY25.
• Food delivery’s GOV rose by 14.26% and out-of-home consumption GOV increased by 13.91% YoY.
• Quick commerce (which includes the Instamart business) GOV rose by 56.42% and its gross revenue increased by a whopping 90% in Q1 of FY25 on a YoY basis.

Swiggy vs Zomato: Financial Comparison

Here is the key comparison of the financials of Swiggy and Zomato:

Particulars	Swiggy	Zomato
Revenue (FY24)	11,247	12,114
Profit (FY24)	-2,350	351
Revenue (Q1 FY25)	3,222	4,206
Profit (Q1 FY25)	-611	266

*(in ₹ crores)

When it comes to revenue and profitability, Zomato has performed better than Swiggy. Zomato’s revenue in FY24 is 7.7% higher than Swiggy. Also, in Q1 FY25, Zomato has generated 30.5% higher revenue.

On the other hand, Swiggy’s diluted EPS (Earnings Per Share) is ₹10.70 and Zomato’s EPS was ₹0.41. Swiggy’s NAV (Net Asset Value) per share is ₹35.48 and Zomato’s NAV per share is ₹23.14. Later on, Swiggy share price and number of shares will determine its true and comparable EPS and NAV.

Risk Factors in Swiggy IPO

You can gauge the Swiggy listing price from the Swiggy IPO GMP, but certainly, there are some risk factors that need to be understood:

1. Negative net losses since incorporation and negative cash flows from operating activities in the past are signs of worry.
2. Failing to retain customers or increase the number of new users can impact the financial condition of the company.
3. Any failure to retain or acquire new delivery partners, restaurant partners, merchant partners, and brand partners may affect the business and operations.
4. Any negligence in managing the dark stores in a cost-effective manner may affect the quick commerce business.
5. Any negligence in managing the warehouses in a cost-effective manner may affect the supply chain and distribution business.
6. With high competition from Zomato and other peers, the company’s ability to attract new customers might be affected and hence its financial performance.
7. Any failure to innovate and keep up with the technological developments in the platform may impact the business.

How the Swiggy share price will be traded in the market and how it will go in comparison to Zomato is something to watch out for. For all the insights on Swiggy IPO and detailed expert advice, you can download the SMC ACE App or visit the SMC telegram channels. Take smart decisions and apply for this IPO easily on the SMC ACE App by opening demat account now.

Swiggy IPO: Contact Information

For inquiries related to the Swiggy IPO details, you can contact at the following places:

Registered Office Address: No. 55, Sy No. 8-14, Ground Floor, I&J Block, Embassy Tech Village, Outer Ring Road, Devarbisanahalli, Bengaluru 560 103, Karnataka, India
Phone: +91 95907 56603
Email: secretarial@swiggy.in
Company Website: http://www.swiggy.com/

Swiggy IPO Registrar Details:

Registrar Name: Link Intime India Private Limited
Phone: +91 81081 14949
Email: swiggy.ipo@linkintime.co.in

FAQs

1. Is Swiggy IPO coming?

Yes, Swiggy IPO is coming and it will open on November 6 and close on November 8 of 2024.

2. Is Swiggy a public listed company?

Swiggy is going to list on the NSE and BSE on November 13, 2024.

3. What is the issue size of Swiggy IPO?

The total issue size of the Swiggy IPO is more than ₹11,000 crores.

Reference
https://www.sebi.gov.in/filings/public-issues/oct-2024/swiggy-limited-rhp_88045.html

Author: All Content is verified by SMC Global Securities.