Swiggy Limited IPO

Founded in 2014, Swiggy Limited provides its users with an easy-to-use platform that they can access via a single app to search, select, order, and pay for food (Food Delivery), grocery and household goods (Instamart) and have orders delivered to their homes via an on-demand delivery partner network.

The company has five business units:

  • Food Delivery;
  • Out-of-home consumption, which includes restaurant visits and events;
  • Quick Commerce for the delivery of grocery and household items on demand;
  • Supply chain and distribution: business-to-business (“B2B”) deliveries, warehousing, logistics and distribution for wholesalers and retailers; and
  • Platform innovation for new initiatives and offerings such as Swiggy Genie and Swiggy Minis.

The company’s platform enables restaurant reservations (Dineout) and event bookings (SteppinOut), product pickups/deliveries (Genie) and other hyperlocal commerce activities (Swiggy Minis and others). The company also offers a membership program called “Swiggy One” with discounts and offers, in-app payment solutions such as a digital wallet “Swiggy Money” (a prepaid payment instrument), “Swiggy UPI” and a Swiggy-HDFC Bank credit card for additional benefits.

Swiggy offers restaurant partners, merchant partners (who sell grocery and household items on the Swiggy platform) and brand partners, including alliance partners, comprehensive business enablement solutions such as analytics-driven tools to improve their online presence and user base, fulfillment services to streamline their supply chain and last-mile delivery.

As of June 30, 2024, Swiggy carried a selection of approximately 19,000 SKUs of grocery and household items. These products include (i) everyday convenience purchases such as eggs, bread, fruit, and vegetables, (ii) impulse purchases of snacks and quick meals, (iii) recurring purchases that are typically made on a monthly or weekly basis, such as Household items like shampoo, soap and others, (iv) call-off purchases that are made on an ad hoc basis, such as feminine hygiene, basic pharmaceutical and personal care items and stationery, and (v) occasion and festival-related purchases, which include sweets, festive supplies and team items at sporting events.

As of June 30, 2024, Swiggy’s Instamart operated a large network of 557 Active Dark Stores across 32 cities in India and as of September 10, 2024, Instamart operated a network of 605 Active Dark Stores across 43 cities in India.

As of June 30, 2024, the company employed 5,401 people.

Swiggy Limited Financial Information (Restated Consolidated)

Swiggy Limited’s revenue increased by 34% and profit after tax (PAT) rose by 44% between the financial year ending with March 31, 2024 and March 31, 2023.

Period Ended30 Jun 202431 Mar 202431 Mar 202331 Mar 2022
Assets10,341.2410,529.4211,280.6514,405.74
Revenue3,310.1111,634.358,714.456,119.78
Profit After Tax-611.01-2,350.24-4,179.31-3,628.9
Net Worth7,444.997,791.469,056.6112,266.91
Reserves and Surplus-7,750.85-7,880.85-6,510.34-3,311.1
Total Borrowing256.61211.19  
Amount in ₹ Crore

Key Performance Indicator

The market capitalization of Swiggy IPO is Rs 87298.6 Cr.

KPI as of June 30, 2024.

KPIValues
RoNW-8.21%
P/BV11.6
 Pre IPOPost IPO
EPS (Rs) -11.07-10.92
P/E (x) -35.23-35.72
Note:
  • The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2024 that is available in RHP.
  • The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of June 30, 2024 that is available in RHP.

Objects of the Issue (Swiggy IPO Objectives)

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

  1. Investment in the Material Subsidiary, Scootsy, for repayment or pre-payment, in full or in part, of certain or all of its borrowings;
  2. 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;
  3. Investment in technology and cloud infrastructure;
  4. Brand marketing and business promotion expenses for enhancing the brand awareness and visibility of its platform, across segments; and
  5. Funding inorganic growth through unidentified acquisitions and general corporate purposes.

Swiggy IPO Details

IPO DateNovember 6, 2024 to November 8, 2024
Listing Date[.]
Face Value₹1 per share
Price Band₹371 to ₹390 per share
Lot Size38 Shares
Total Issue Size290,446,837 shares
(aggregating up to ₹11,327.43 Cr)
Fresh Issue115,358,974 shares
(aggregating up to ₹4,499.00 Cr)
Offer for Sale175,087,863 shares of ₹1
(aggregating up to ₹6,828.43 Cr)
Employee DiscountRs 25 per share
Issue TypeBook Built Issue IPO
Listing AtBSE, NSE
Share holding pre issue2,123,066,748
Share holding post issue2,238,425,722

Swiggy IPO Promoter Holding

The Company does not have an identifiable promoter in terms of the SEBI ICDR Regulations and the Companies Act.

Share Holding Pre Issue63.56%
Share Holding Post Issue 

SHARIAH SCREENING for - Swiggy Limited IPO

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BUSINESS SCREEN

FINANCIAL RATIOS

As per our analysis and Based on the information we have, this is the output.
Allah knows best.
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