Swiggy (Swiggy Limited IPO) has established itself as a modern, consumer-focused technology platform that streamlines convenience for users. With its integrated app, customers can easily explore, order, and pay for a wide range of items, from food to groceries. The efficient on-demand delivery network ensures that orders are swiftly delivered to customers’ doorsteps, enhancing the overall experience.
In addition to food delivery and grocery services, Swiggy offers functionalities like Dineout for restaurant reservations and SteppinOut for event bookings. The platform also features Genie for hassle-free product pick-up and drop-off, catering to various hyperlocal needs. As a pioneer in the hyperlocal commerce landscape, Swiggy has made significant strides since launching its Food Delivery service in 2014 and expanding into Quick Commerce in 2020, solidifying its reputation as a leader in innovation and convenience in India.
Incorporation: Established as Bundl Technologies Private Limited on December 26, 2013, under the Companies Act, 1956 in Andhra Pradesh.
Office Relocation: Moved registered office from Andhra Pradesh to Karnataka on November 2, 2015, with a special resolution on December 11, 2015.
New Registration: Received a fresh certificate of registration from the Registrar of Companies, Karnataka, on September 19, 2016.
Name Change: Changed name to Swiggy Private Limited following Board and shareholder resolutions on January 25, 2024, and February 19, 2024; fresh certificate issued on April 1, 2024.
Conversion to Public Company: Converted to a public limited company with resolutions passed on February 14, 2024, and February 19, 2024; name changed to Swiggy Limited.
Final Registration: Fresh certificate of incorporation for Swiggy Limited issued on April 10, 2024.
Swiggy earn revenue from sale of services and sale of goods on our platform. Swiggy revenue from services primarily includes,
Revenue from sale of goods primarily relates to revenue earned from the sale of products as part of our Supply Chain and Distribution business, described below.
Five business segments.
| Particulars | Details |
|---|---|
| IPO Date | November 6, 2024 to November 8, 2024 |
| IPO Date Allotment | Monday, November 11, 2024 |
| IPO Listing Date | Wednesday, November 13, 2024 |
| Price Band | ₹371 to ₹390 per share |
| Total Issue Size | 290,446,837 shares (aggregating up to ₹11,327.43 Cr) |
| Fresh Issue | 115,358,974 shares (aggregating up to ₹4,499.00 Cr) |
| Offer for Sale | 175,087,863 shares of ₹1 (aggregating up to ₹6,828.43 Cr) |
Swiggy Limited IPO: IPO Reservation:
| Investor Category | Reserved % |
|---|---|
| QIB | Not More than 75% of the Net Issue |
| Retail | Not more than 10% of the Net Issue |
| NII (HNI) | Not more than 15.00% of the Net Issue |
We propose to utilise the Net Proceeds towards funding the following objects:
1. Investment in our Material Subsidiary, Scootsy, for repayment or pre-payment, in full or in part, of certain or all of its borrowings;
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;
3. Investment in technology and cloud infrastructure;
4. Brand marketing and business promotion expenses for enhancing the brand awareness and visibility of our platform, across our segments; and
5. Funding inorganic growth through unidentified acquisitions and general corporate purposes.
| Particulars | Period ended 30.06.2024 | Year ended 31.03.2024 | Year ended 31.03.2023 | Year ended 31.03.2022 |
|---|---|---|---|---|
| Revenue | 33,101.11 | 116,343.49 | 87,144.53 | 61,197.77 |
| Loss Before Tax | (6,110.07) | (23,502.43) | (41,793.05) | (36,288.96) |
| Assets | 103,412.42 | 105,294.21 | 112,806.45 | 144,057.36 |
| Equity | 74,449.92 | 77,914.61 | 90,566.12 | 122,669.12 |
| Liabilities | 28,962.50 | 27,379.60 | 22,240.33 | 21,388.24 |
| Particulars | Period ended 30.06.2024 | Year ended 31.03.2024 | Year ended 31.03.2023 | Year ended 31.03.2022 |
|---|---|---|---|---|
| Loss per share | (2.76) | (10.70) | (19.33) | (18.62) |
| Return on Net Worth (%) | (8.21) | (30.16) | (46.15) | (29.58) |
| Net Asset Value per Equity Share (in ₹) | 33.61 | 35.48 | 41.88 | 62.96 |
Following is a comparison of our accounting ratios with the listed peers:
Anand Kripalu:
Position: Independent Director and Chairman of the Board since December 4, 2023.
Education:
Current Role: Managing Director and Global CEO at EPL Limited.
Previous Experience:
Recognition: Recipient of the “Lifetime Achievement Award” at the 8th Indian Marketing Awards by exchange4media.
Sriharsha Majety
Position: Managing Director and Group Chief Executive Officer of the Company.
Education:
Experience: Over 10 years of experience with the Company.
Recognition: Awarded ‘Entrepreneur of the Year 2019’ at ‘The Economic Times Awards for Corporate Excellence’ in November 2019.
Lakshmi Nandan Reddy Obul:
Position: Whole-time Director – Head of Innovation on the Board.
Experience: Over 10 years with the Company.
Education: Master’s degree in Science (Honors) in Physics from Birla Institute of Technology and Science, Pilani.
Previous Experience: Worked as an Associate in Business Consulting at Intellectual Capital Advisory Services Pvt. Ltd. (Intellecap).
Shailesh Vishnubhai Haribhakti
Position: Independent Director of the Company since January 24, 2023.
Professional Memberships:
Experience: Over 15 years, with previous roles at:
Sahil Barua:
Position: Independent Director on the Board since January 24, 2023.
Education:
Current Role: Co-founder and Chief Executive Officer of Delhivery Limited for over 11 years.
Previous Experience: Worked as a consultant at Bain and Company India Private Limited for over 2 years.
Suparna Mitra:
Position: Independent Director on the Board since April 1, 2024.Education:
Current Role: Chief Executive Officer of the Watches and Wearables Division at Titan Company Limited for 18 years.
Board Membership: Serves on the Board of Governors for the Indian Institute of Management, Kozhikode for 5 years.
Previous Experience: Served on the board of Tata Power Solar Systems Ltd.
Recognitions:
Anand Daniel:
Position: Nominee Director (Non-Executive) on the Board since July 10, 2015.
Education:
Previous Experience: Worked with Accel India Management LLP for 4 years.
Current Role: Partner at Accel Partners India LLP for 10 years.
Ashutosh Sharma:
Position: Nominee Director (Non-Executive) on the Board since June 21, 2017.
Education:
Current Role: Investment Partner, Growth+ at MIH Internet India Private Limited.
Experience: Associated with the Prosus Group for over 7 years.
Previous Roles: Served as Vice President at Norwest Venture Partners and worked at Qualcomm India Private Limited.
Sumer Juneja:
Position: Nominee Director (Non-Executive) on the Board since July 27, 2021.
Education: Bachelor of Science from the London School of Economics and Political Science, University of London.
Current Role: Managing Partner and Head of Europe, Middle East, and Africa (EMEA) and India at SB Investment Advisers (UK) Limited.
Previous Experience: Associated with entities affiliated to SB Investment Advisers (UK) Limited for 4 years.
Past Role: Director at NVP Venture Capital India Private Limited for over 9 years.
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