Bookbuilding IPO | ₹11,327 Cr | Listed at BSE, NSE | Wed, Nov 6, 2024 - Fri, Nov 8, 2024
Swiggy IPO is a book build issue of ₹11,327.43 crores. The issue is a combination of fresh issue of 11.54 crore shares aggregating to ₹4,499.51 crores and offer for sale of 17.51 crore shares aggregating to ₹6,827.92 crores.
Swiggy IPO bidding started from Nov 6, 2024 and ended on Nov 8, 2024. The allotment for Swiggy IPO was finalized on Nov 11, 2024. The shares got listed on BSE, NSE on Nov 13, 2024.
Swiggy IPO price band is set at ₹390 per share. The lot size for an application is 38. The minimum amount of investment required by an retail is ₹14,820 (38 shares) (based on upper price). The lot size investment for sNII is 14 lots (532 shares), amounting to ₹2,07,480, and for bNII, it is 68 lots (2,584 shares), amounting to ₹10,07,760.
The issue includes a reservation of up to 7,50,000 shares for employees offered at a discount of ₹25.00 to the issue price.
Kotak Mahindra Capital Co.Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
Refer to Swiggy IPO RHP for detailed Information.
IPO Open
Wed, Nov 6, 2024
IPO Close
Fri, Nov 8, 2024
Issue Price
₹390 per share
Market Cap (Pre-IPO)
₹87,298.60 Cr
| IPO Date | 6 to 8 Nov, 2024 |
| Listed on | Wed, Nov 13, 2024 |
| Face Value | ₹1 per share |
| Price Band | ₹371 to ₹390 |
| Issue Price | ₹390 per share |
| Lot Size | 38 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Employee Discount | ₹25.00 |
| Total Issue Size | 29,04,68,426 shares (agg. up to ₹11,327 Cr) |
| Fresh Issue | 11,53,80,563 shares (agg. up to ₹4,500 Cr) |
| Offer for Sale | 17,50,87,863 shares of ₹1 (agg. up to ₹6,828 Cr) |
| Share Holding Pre Issue | 2,12,30,66,748 shares |
| Share Holding Post Issue | 2,23,84,25,722 shares |
| BSE Script Code / NSE Symbol | 544285 / SWIGGY |
| ISIN | INE00H001014 |
Swiggy IPO offers total 29,04,94,914 shares. Out of which 21,73,08,686 (74.81%) allocated to QIB, 8,69,23,475 (29.92%) allocated to QIB (Ex- Anchor), 4,34,61,737 (14.96%) allocated to NII 2,89,74,491 (9.97%) allocated to RII and 13,03,85,211 (44.88%) allocated to Anchor investors.
| Investor Category | Shares Offered | Max Allottees |
|---|---|---|
| QIB Shares Offered | 21,73,08,686 (74.81%) | NA |
| − Anchor Investor Shares Offered | 13,03,85,211 (44.88%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 8,69,23,475 (29.92%) | NA |
| NII (HNI) Shares Offered | 4,34,61,737 (14.96%) | NA |
| − bNII > ₹10L | 2,89,74,492 (9.97%) | 54,463 |
| − sNII < ₹10L | 1,44,87,245 (4.99%) | 27,231 |
| Retail Shares Offered | 2,89,74,491 (9.97%) | 7,62,486 |
| Employee Shares Offered | 7,50,000 (0.26%) | NA |
| Total Shares Offered | 29,04,94,914 (100.00%) |
Investors can bid for a minimum of 38 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 38 | ₹14,820 |
| Retail (Max) | 13 | 494 | ₹1,92,660 |
| S-HNI (Min) | 14 | 532 | ₹2,07,480 |
| S-HNI (Max) | 67 | 2,546 | ₹9,92,940 |
| B-HNI (Min) | 68 | 2,584 | ₹10,07,760 |
Swiggy IPO raises ₹5,085.02 crore from anchor investors. Swiggy IPO Anchor bid date is November 5, 2024.
📝 Anchor Investors Letter (PDF)
| Bid Date | Tue, Nov 5, 2024 |
| Shares Offered | 13,03,85,211 |
| Anchor Portion (₹ Cr.) | 5,085.02 |
| Anchor lock-in period end date for 50% shares (30 Days) | Tue, Dec 10, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | Sat, Feb 8, 2025 |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only employee | Yes | |
| Employee + RII/NII |
|
Yes for Employee and RII/NII |
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:
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.
| 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 |
| Total Income | 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 | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Investment in our Material Subsidiary, Scootsy, for repayment or pre-payment, in full or in part, of certain or all of its borrowings; | 164.80 |
| 2 | Investment in our Material Subsidiary, Scootsy, for: (a) expansion of our Dark Store network for our Quick Commerce segment through setting up of Dark Stores; and (b) making lease / license payments for Dark Stores; | 1,178.70 |
| 3 | Investment in technology and cloud infrastructure; | 703.40 |
| 4 | Brand marketing and business promotion expenses for enhancing the brand awareness and visibility of the platform, across our segments; and | 1,115.30 |
| 5 | Funding inorganic growth through unidentified acquisitions and general corporate purposes. | 1,196.78 |
| KPI | Jun 30, 2024 |
|---|---|
| RoNW | -8.21% |
| Price to Book Value | 11.60 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | -11.07 | -ve |
| P/E (x) | -35.23 | -ve |
| Promoter Holding | 63.56% | 52.97% |
| Market Cap | ₹87,298.60 Cr. |
The Swiggy IPO is subscribed 3.59 times on November 8, 2024 6:19:08 PM (Day 3). The public issue subscribed 1.14 times in the retail category, 6.02 times in the QIB category, and 0.41 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 6.02 | 8,69,23,475 | 52,30,89,494 |
| NII | 0.41 | 4,34,61,737 | 1,79,02,218 |
| bNII (bids above ₹10L) | 0.37 | 2,89,74,491 | 1,07,03,612 |
| sNII (bids below ₹10L) | 0.5 | 1,44,87,246 | 71,98,606 |
| Retail | 1.14 | 2,89,74,491 | 3,30,77,746 |
| Employee | 1.65 | 7,50,000 | 12,37,546 |
| Total | 3.59 | 16,01,09,703 | 57,53,07,004 |
Total Application : 7,15,124
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | BRLM's fees (including brokerage and selling commission) | 274.80 |
| 2 | Commission/processing fee for SCSBs, Sponsor Bank and Bankers to the Offer. Brokerage and selling commission and bidding charges for Members of the Syndicate, Registered Brokers, RTAs and CDPs. | 8.68 |
| 3 | Fees payable to Registrar to the Offer | 0.03 |
| 4 | Fees payable to the other parties to the Offer^ | 7.87 |
| 5 | Others - Listing fees, SEBI filing fees, upload fees, BSE and NSE processing fees, book building software fees and other regulatory expenses | 23.36 |
| 6 | Others - Fees payable to legal counsel | 20.71 |
| 7 | Others - Printing and stationery | 0.45 |
| 8 | Others - Advertising and marketing expenses | 12.49 |
| 9 | Others - Miscellaneous | 4.03 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹390.00 | ₹390.00 |
| Open | ₹412.00 | ₹420.00 |
| Low | ₹390.70 | ₹391.00 |
| High | ₹465.30 | ₹465.80 |
| Last Trade | ₹455.95 | ₹456.00 |
Lead Manager Reports
Swiggy IPO is a main-board IPO of 29,04,68,426 equity shares of the face value of ₹1 aggregating up to ₹11,327 Crores. The issue is priced at ₹390 per share. The minimum order quantity is 38.
The IPO opens on Wed, Nov 6, 2024, and closes on Fri, Nov 8, 2024.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Swiggy IPO using UPI as a payment gateway. Zerodha customers can apply in Swiggy IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Swiggy IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Swiggy IPO opens on Wed, Nov 6, 2024 and closes on Fri, Nov 8, 2024.
Swiggy IPO lot size is 38, and the minimum amount required for application is ₹14,820.
You can apply in Swiggy IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Swiggy IPO will be done on Monday, November 11, 2024, and the allotted shares will be credited to your demat account by Tue, Nov 12, 2024. Check the Swiggy IPO allotment status.
The Swiggy IPO listing date is on Wed, Nov 13, 2024.
