IPO Price Range: ₹371 - 390
Min Investment
₹14,820
IPO Size
₹11,327 Cr
IPO Status
Quantity in 1 Lot
38
Max Bid allowed
13
Listing Exchange
NSE
IPO subscribed over
🚀 3.59x
This IPO has been subscribed by 1.14x in retail and 6.02x in QIB.
Total Subscription | 3.59x |
Retail Individual Investors | 1.14x |
Qualified Institutional Buyers | 6.02x |
Non Institutional Investors | 0.41x |
Bid Opening Date | 6 Nov 2024 |
Bid Closing Date | 8 Nov 2024 |
Allotment Date | 11 Nov 2024 |
Issue Size | ₹11,327.43Cr |
Quantity in 1 lot | 38 |
Product | Food Delivery & Quick Commerce App |
Known For | Online food & grocery ordering and hyperlocal pick-up & deliveries. |
Top Products | Swiggy- On-demand food delivery,Instamart- Quick grocery delivery,Dineout- Restaurant reservations,Swiggy One- Subscription offering for extra offers & free deliveries. |
Name of Seller | Seller Type | % of Stake Sold | No. of shares sold |
Rahul Verma | Promoter | 10% | 10,000 |
Shivam Verma | Promoter | 10% | 10,000 |
Background in technology and entrepreneurship, with a focus on scaling tech-driven businesses.
Expanding User Base: Swiggy reached over 112 million transacting users in 2024, supported by its unified app and extensive partner network, driving a steady increase in Average Order Value (AOV) and sales growth.
Diverse Service Offerings: Swiggy provides a wide range of services, including Food Delivery, Quick Commerce (Instamart), parcel delivery (Swiggy Genie), and dining reservations (Dineout), driving higher user retention and cross-service engagement.
Operational Scale: Swiggy processes 1.58 million food orders and 482,000 Quick Commerce orders daily, averaging 1,433 orders per minute, showcasing Swiggy’s infrastructure strength and capacity to meet high demand.
Delivery Efficiency: Swiggy's logistics network achieves an average delivery time of just 12.6 minutes for Quick Commerce, a competitive advantage in a market driven by convenience.
Competitive Valuation: Swiggy’s IPO valuation equates to ₹7.8 per ₹1 of sales, more favorable than Zomato’s ₹13.8 per ₹1 of sales, potentially attractive to investors.
Strong Growth Potential: With the Indian food delivery and Quick Commerce markets projected to grow at a 17% and 60% CAGR, respectively, by 2028, Swiggy is well-positioned for expansion in an accelerating industry.
Consistent Losses: Swiggy has reported yearly losses since inception, driven by high costs in marketing, employee benefits, and delivery operations.
High Competition: Competes against Zomato and ONDC, risking growth and market share due to price wars and customer attrition.
Profitability Concerns in Quick Commerce: Quick Commerce, which reached ₹80 billion in FY2024, remains unprofitable, adding complexity and costs.
Reliance on Third-Party Payments: Dependence on external payment providers introduces risks in fees, compliance, and potential disruptions.
Operational Complexity: Managing and scaling from 1.58 million food orders and 482,000 Quick Commerce orders daily adds significant logistical costs.
Organisation | Swiggy Ltd |
Headquarters | Bangalore, India |
Industry | Online Food Delivery |