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Swiggy IPO
Price Band
₹371.0–390.0
Issue Size
₹11327.43 Cr
Lot Size
38 shares
Min Investment
₹14,820
GMP
—
Issue Price
₹390.0
Swiggy IPO AI Summary
- Swiggy IPO is listed on BSE, NSE in the E-Retail/ E-Commerce sector.
- Price band: ₹371.0–₹390.0 per share, lot size 38 shares (min. investment ₹14,820).
- Subscription window: 06 Nov–08 Nov 2024, listing on 13 Nov 2024.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Swiggy IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 08 Nov 2024 — not a current signal.
6 of 7 reviewers say Positive
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Subscription data unavailable
Swiggy IPO Grey Market Premium (GMP) Today
GMP not available yet
Grey Market Premium is updated daily. Check back closer to the listing date.
About the Company
Founded in 2014, Swiggy Limited provides its users with an easy-to-use platform that they can access via a single app to search, select, order, and pay for food (Food Delivery), grocery and household goods (Instamart) and have orders delivered to their homes via an on-demand delivery partner network. The company has five business units: Food Delivery; Out-of-home consumption, which includes restaurant visits and events; Quick Commerce for the delivery of grocery and household items on demand; Supply chain and distribution: business-to-business (“B2B”) deliveries, warehousing, logistics and distribution for wholesalers and retailers; and Platform innovation for new initiatives and offerings such as Swiggy Genie and Swiggy Minis. The company's platform enables restaurant reservations (Dineout) and event bookings (SteppinOut), product pickups/deliveries (Genie) and other hyperlocal commerce activities (Swiggy Minis and others). The company also offers a membership program called “Swiggy One” with discounts and offers, in-app payment solutions such as a digital wallet “Swiggy Money” (a prepaid payment instrument), “Swiggy UPI” and a Swiggy-HDFC Bank credit card for additional benefits. Swiggy offers restaurant partners, merchant partners (who sell grocery and household items on the Swiggy platform) and brand partners, including alliance partners, comprehensive business enablement solutions such as analytics-driven tools to improve their online presence and user base, fulfillment services to streamline their supply chain and last-mile delivery. As of June 30, 2024, Swiggy carried a selection of approximately 19,000 SKUs of grocery and household items. These products include (i) everyday convenience purchases such as eggs, bread, fruit, and vegetables, (ii) impulse purchases of snacks and quick meals, (iii) recurring purchases that are typically made on a monthly or weekly basis, such as Household items like shampoo, soap and others, (iv) call-off purchases that are made on an ad hoc basis, such as feminine hygiene, basic pharmaceutical and personal care items and stationery, and (v) occasion and festival-related purchases, which include sweets, festive supplies and team items at sporting events. As of June 30, 2024, Swiggy's Instamart operated a large network of 557 Active Dark Stores across 32 cities in India and as of September 10, 2024, Instamart operated a network of 605 Active Dark Stores across 43 cities in India. As of June 30, 2024, the company employed 5,401 people.
Company Financials (₹ Cr)
As of 2024-06-30
| Period Ended | 30 Jun 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | 10,341.24 | 10,529.42 | 11,280.65 | 14,405.74 |
| Total Income | 3,310.11 | 11,634.35 | 8,714.45 | 6,119.78 |
| Profit After Tax | -611.01 | -2,350.24 | -4,179.31 | -3,628.90 |
| NET Worth | 7,444.99 | 7,791.46 | 9,056.61 | 12,266.91 |
| Reserves and Surplus | -7,750.85 | -7,880.85 | -6,510.34 | -3,311.10 |
| Total Borrowing | 256.61 | 211.19 |
Key Ratios
EPS
₹-11.07
NAV
₹33.61
RoNW
-8.21%
P/B Value
11.60
P/E Ratio
-35.23
Market Cap
₹87298.60 Cr
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|---|---|
| Zomato Limited | 23.14 | 1.72% | 634.5 | 0.41 | 0.4 |
| Swiggy Limited This IPO | 35.48 | -30.16% | -35.23 | -10.7 | -10.7 |
Promoters
No Identifiable Promoter
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Investment in our Material Subsidiary, Scootsy, for repayment or pre-payment, in full or in part, of certain or all of its borrowings; 164.80 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; 1,178.70 3 Investment in technology and cloud infrastructure; 703.40 4 Brand marketing and business promotion expenses for enhancing the brand awareness and visibility of the platform, across our segments; and 1,115.30 5 Funding inorganic growth through unidentified acquisitions and general corporate purposes. 1,196.78
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹6,119.78 Cr in the year ending 31 Mar 2022, rising to ₹8,714.45 Cr by 31 Mar 2023, and further increasing to ₹11,634.35 Cr by 31 Mar 2024. However, for the most recent period ending 30 Jun 2024, total income decreased to ₹3,310.11 Cr, though this is a 9-month figure, not a full year, so isn't directly comparable.
Profit Trend
Profit after tax was a loss of ₹3,628.90 Cr in the year ending 31 Mar 2022, which worsened to a loss of ₹4,179.31 Cr by 31 Mar 2023. The loss continued to increase to ₹2,350.24 Cr for the year ending 31 Mar 2024, and further to ₹611.01 Cr for the period ending 30 Jun 2024, though this is a 9-month figure, not a full year, so isn't directly comparable.
Valuation
Swiggy's implied P/E at the issue price is -35.23, while peers like Zomato Limited are trading at a P/E of 634.5. This indicates that Swiggy is priced at a significantly lower valuation compared to its peer.
Grey Market Premium, Explained
The grey market refers to the unofficial market where IPO shares are bought and sold before they are listed on the stock exchange. The Grey Market Premium (GMP) indicates the expected listing price of an IPO based on demand and supply in this unofficial market. A positive GMP suggests that the market expects the stock to list at a higher price than the issue price.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their overall investment strategy and risk tolerance. It's important to consider the company's financial performance, growth potential, and market conditions.
Who May Want to Wait
Investors who are risk-averse or those who prefer stable returns may want to avoid this IPO, especially given its current financial losses and the volatility often associated with new listings.
Listing Gains — The Risk
Listing-day gains are not guaranteed and can be influenced by market sentiment, demand for the stock, and overall market conditions. Investors should be cautious as listing gains can fluctuate significantly, and it is essential to assess the company's fundamentals rather than just short-term price movements.
This evaluation is generated from Swiggy's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is the price band of Swiggy IPO?
The price band of Swiggy IPO is ₹371.0–₹390.0 per share.
When does Swiggy IPO open and close?
Swiggy IPO opens on 06 November 2024 and closes on 08 November 2024.
When does Swiggy IPO list on the stock exchange?
Swiggy IPO listed on 13 November 2024 at ₹390.0.
What is the lot size for Swiggy IPO?
The lot size for Swiggy IPO is 38 shares, requiring a minimum investment of ₹14,820.
What is the price band for the Swiggy IPO?
The price band for the Swiggy IPO is ₹371.0 to ₹390.0.
What is the lot size for the Swiggy IPO?
The lot size for the Swiggy IPO is 38 shares.
What is the minimum investment required for the Swiggy IPO?
The minimum investment required for the Swiggy IPO is ₹14,820.0.
When is the Swiggy IPO opening and closing?
The Swiggy IPO opens on November 6, 2024, and closes on November 8, 2024.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected listing price of an IPO based on unofficial market trading.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
06 Nov 2024
Close
08 Nov 2024
Allotment
11 Nov 2024
Listing
13 Nov 2024
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