Swiggy, one of India’s leading food delivery platforms, is preparing to launch its highly anticipated Initial Public Offering (IPO). With substantial market presence and growing business verticals like Instamart, Swiggy is set to draw significant interest from investors. Here’s everything you need to know about the Swiggy IPO.
Swiggy IPO Key Highlights
- IPO Date: Expected to be announced soon, likely by the end of 2024.
- Issue Size: Approx. ₹10,000 crore.
- Fresh Issue Size: ₹5,000 crore (subject to approval).
- Offer for Sale (OFS): ₹6,664 crore.
- IPO Price Band: To be announced.
- GMP (Grey Market Premium): Updates will be provided closer to the listing date.
- Listing Exchanges: Likely to be listed on BSE and NSE.
Company Overview: Swiggy
Swiggy, founded in 2014, revolutionized food delivery in India and expanded into grocery delivery through Instamart. Operating in over 580 cities, the company is a household name. Recently, it reported a 36% increase in operating revenue, reaching ₹11,247 crore for FY 2024. Despite growth, Swiggy recorded a net loss of ₹2,350 crore.
Business Segments
- Food Delivery: Competing directly with Zomato.
- Quick Commerce: Instamart challenges rivals like Blinkit, BigBasket, and Zepto.
- Same-Day Delivery (Swiggy Genie): Expanding into logistics services.
Financials of Swiggy
FY 2024 Key Financial Metrics:
- Revenue: ₹11,247 crore, a 36% YoY increase.
- Net Loss: ₹2,350 crore, improved by 44% from the previous year.
Swiggy has been making efforts to improve its financial health as it eyes profitability post-IPO. With an increasing focus on quick commerce and operational efficiency, Swiggy is positioned to leverage both its food and grocery delivery businesses.
Swiggy IPO Objectives
Swiggy aims to use the IPO proceeds for:
- Expanding Operations: Strengthening its logistics and delivery network in Tier 2 and Tier 3 cities.
- Investing in Instamart: Capitalizing on the booming quick commerce market.
- Debt Reduction: Improving balance sheet health.
- General Corporate Purposes.
Swiggy IPO Price, Lot Size, and GMP
As the IPO approaches, the price band, lot size, and grey market premium (GMP) will become critical factors for potential investors. We will update this section as soon as the details are available.
What is the GMP for Swiggy IPO?
Currently, the GMP for Swiggy’s IPO is not available. Stay tuned for the latest updates as market sentiments and demand in the grey market fluctuate.
How to Apply for Swiggy IPO?
Investors can apply through any major brokerage platform by:
- Logging into their Demat account.
- Navigating to the IPO section.
- Selecting the Swiggy IPO and entering their bid details.
- Confirming their application and payment.
Should You Invest in Swiggy’s IPO?
Strengths:
- Strong Brand: Dominant in the Indian food delivery sector.
- Diverse Revenue Streams: Food delivery and quick commerce provide Swiggy a diversified business model.
- High Growth Potential: With plans to expand and improve operations, Swiggy is positioned for substantial growth post-IPO.
Risks:
- Loss-Making Company: Despite growth, Swiggy has yet to turn profitable.
- Highly Competitive Market: Faces tough competition from Zomato, BigBasket, Zepto, and Flipkart.
- Market Volatility: IPO performance will be influenced by overall market conditions at the time of listing.
This article will be updated regularly with official dates and GMP figures once Swiggy’s IPO details are released. Be sure to bookmark this page for the latest updates.
The IPO date is expected in end of this year. Stay tuned for official updates.
The price band is yet to be announced. We will update this section once the details are out.
The current price of Swiggy’s unlisted share is ₹550, with a face value of ₹1.