Swiggy Limited, a major player in the food and grocery delivery industry, is set to open its IPO for subscription on November 6, 2024, with the closing date scheduled for November 8, 2024. This book-built issue aims to raise ₹11,327.43 crores, with a combination of fresh issues and an offer for sale. The company has disclosed the details of the IPO in an exchange report, providing an in-depth breakdown of the share allocations, price band, and investment options for various investor categories.
The IPO’s price band has been set between ₹371 to ₹390 per share, and investors can bid in lots starting at 38 shares. Retail investors need a minimum investment of ₹14,820, while larger investors, such as sNII and bNII, have options for bigger lot sizes and investment amounts.
Key Dates for Swiggy IPO
- IPO Open Date: November 6, 2024
- IPO Close Date: November 8, 2024
- Allotment Date: November 11, 2024
- Initiation of Refunds: November 12, 2024
- Credit of Shares to Demat: November 12, 2024
- Listing Date: November 13, 2024
Key Financials of Swiggy Limited
Swiggy has shown growth in revenue and reduction in losses over recent years. As of June 30, 2024, Swiggy reported assets worth ₹10,341.24 crore and revenue for the quarter at ₹3,310.11 crore. However, the company posted a loss of ₹611.01 crore for the same period, marking an improvement from previous fiscal losses. Swiggy’s total network includes 605 Active Dark Stores across 43 cities as of September 2024, underscoring its extensive reach in India’s quick-commerce market.
The lead managers for the IPO include Kotak Mahindra Capital, Citigroup Global Markets, Jefferies India, Avendus Capital, J.P. Morgan India, Bofa Securities India, and ICICI Securities, with Link Intime India Private Ltd as the registrar for the issue.
About Swiggy Limited
Founded in 2014, Swiggy has expanded from food delivery to offer grocery delivery, logistics, and various hyperlocal services. Their platform includes Swiggy Genie for item pickups and deliveries, Instamart for grocery delivery, and Swiggy One membership program. Swiggy’s diversified business model allows them to engage with both retail consumers and B2B clients, providing a range of services that cater to convenience and speed.
With this IPO, Swiggy aims to fortify its financial base and expand further, tapping into the vast potential of India’s rapidly growing digital economy. Investors and market analysts will be closely monitoring this IPO as Swiggy steps into the stock market
