Swiggy, the popular food delivery platform, launched its IPO for public subscription on Wednesday, November 6. Investors can participate in this offering until November 8. Swiggy aims to raise ₹4,499 crore through the issuance of 11.54 crore new equity shares and an additional ₹6,828.43 crore through the sale of 17.51 crore existing shares.

 

Swiggy IPO Details 🔍

  • Total Target: At the upper price band, Swiggy aims to raise up to ₹11,327.43 crore.
  • Price Band: The price band is set at ₹371 to ₹390 per share.
  • Company Overview: Swiggy offers a variety of consumer-focused services, including food delivery, quick commerce (Instamart), restaurant booking (Dineout), event booking (SteppinOut), and pick-up/drop-off services (Genie).

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Key Highlights of Swiggy IPO 📊

  1. IPO Dates: The IPO opened on November 6 and closes on November 8. Share allotment will occur on November 11, with the listing set for November 13.
  2. Price Band: The per-share price is between ₹371 and ₹390.
  3. IPO Size: Includes ₹4,499 crore worth of new shares and ₹6,828.43 crore worth of shares for sale.
  4. Offer for Sale (OFS): Investors such as Accel India, Apoletto Asia, Alpha Wave Ventures, and Tencent Cloud Europe B.V. will sell their shares through the IPO.
  5. Lot Size: Minimum investment requires purchasing a lot of 38 shares, totaling ₹14,820 at the lower price band.
  6. Use of Funds: Proceeds will support investments in Scootsy, technology and cloud infrastructure development, brand marketing, and acquisitions.
  7. Lead Managers: Kotak Mahindra, Citigroup, Jefferies, and others are lead managers; Link Intime is the registrar.
  8. Reservation: The IPO allocates 75% for Qualified Institutional Buyers (QIB), 15% for Non-Institutional Investors (NII), and 10% for retail investors. Employees are eligible for a discount, with 7,50,000 shares reserved at a ₹25 discount.
  9. Grey Market Premium (GMP): The GMP is ₹20 per share, suggesting that Swiggy shares are trading at ₹410 in the grey market.
  10. IPO Review: The IPO has received mixed feedback. SBI Securities recommends it for long-term investment, while Aditya Birla Money advises caution due to high valuation and cash flow concerns.

 

About Swiggy 🌐

Swiggy is an online food and grocery delivery platform. In FY 2024, the company recorded revenue of ₹11,634.35 crore but faced a net loss of ₹2,350.24 crore. Swiggy generates income through restaurant commissions, advertising, consumer fees, and the Swiggy One subscription model.

 

Swiggy IPO Key Financial Metrics Summary 📊

Metric Details
Total Target Up to ₹11,327.43 crore
Price Band ₹371 – ₹390 per share
IPO Size ₹4,499 crore (new) + ₹6,828.43 crore (OFS)
Lot Size 38 shares, minimum ₹14,820 investment
Reservation 75% QIB, 15% NII, 10% Retail, Employee discount available
GMP ₹20, indicating a grey market price of ₹410
Listing Date November 13, 2024
Revenue (FY 2024) ₹11,634.35 crore
Net Loss (FY 2024) ₹2,350.24 crore
Revenue Sources Restaurant commission, advertising, consumer fees, Swiggy One

 

Important Disclaimer 📉

Investing in IPOs and the stock market carries risks. It is advisable to consult with a financial advisor before making any investment decisions.


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