October 30, 2024
New Delhi, India
Swiggy IPO
Swiggy’s Initial Public Offering (IPO) will open for subscription from November 6 to November 8 with a price band of Rs 371 to Rs 390 per share. The total IPO size is set at Rs 11,327 crore with an estimated market capitalization of Rs 87,299 crore.
- Fresh Issue: Rs 4,499 crore
- Offer for Sale (OFS): 17.5 crore shares by existing shareholders, valued at Rs 6,828 crore at the upper price band
Key Dates and Listing Information
- Anchor Book Opening: November 5
- Basis of Allotment: November 11
- Credit of Shares: November 12
- Listing Date: November 13 on BSE and NSE
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Key Shareholders and Stake Reduction
Major stakeholders in the OFS include Prosus (MIH India Food Holdings), SoftBank, Accel India, and Tencent Cloud. Prosus, Swiggy’s largest shareholder, holds 30.93% and has slightly reduced its stake.
Fund Utilization Plans
Swiggy aims to allocate IPO proceeds to:
- Scootsy Investment: Rs 1,343.5 crore
- Technology and Cloud Infrastructure: Rs 703.4 crore
- Brand and Business Promotion: Rs 1,115.3 crore
- Inorganic Growth and Corporate Purposes: Remaining amount
Financial Performance
For FY2024:
- Loss Reduction: Rs 2,350.2 crore, down from Rs 4,179.3 crore
- Revenue Increase: 36% YoY to Rs 11,247.4 crore
For Q1 FY2025:
- Loss: Rs 611 crore (compared to Rs 564 crore YoY)
- Revenue Growth: 35% YoY to Rs 3,222.2 crore
IPO Lead Managers
Kotak Mahindra Capital, Citigroup, Jefferies India, Avendus Capital, JP Morgan India, BofA Securities, and ICICI Securities are the merchant bankers for this IPO.
Latest Q2 Results
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