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Swiggy, one of India's leading food delivery and hyperlocal services platforms, is preparing to launch its much-anticipated Initial Public Offering (IPO). Founded in 2014, Swiggy has become a household name in India’s food delivery industry, transforming the way millions of people order food online. With its wide range of services, from food delivery to grocery shopping through Instamart, Swiggy has captured a significant share of India’s fast-growing online services market.
This article provides an in-depth look at Swiggy, its business model, financial performance, and what potential investors can expect from the upcoming IPO
Swiggy started as a food delivery service, and over the years, it has expanded its offerings. Here’s a snapshot of its core business areas:
Swiggy’s rapid growth can be attributed to its commitment to enhancing customer convenience through technology and innovation. It has also established itself as a strong competitor to Zomato, another popular food delivery service in India.
Swiggy operates on a multi-sided business model, connecting three key stakeholders: customers, restaurant partners, and delivery personnel. Here’s how the model works:
Swiggy’s IPO is part of its long-term strategy to raise capital, scale operations, and further strengthen its position in the competitive Indian market. There are several reasons why the company is opting to go public:
Swiggy, like many startups, has experienced rapid growth but also faces the challenge of improving profitability. Below is a summary of Swiggy’s financial performance for the last few fiscal years:
Financial Summary of Swiggy (in INR Crore)
Financial Metrics |
31 Mar 2024 |
31 Mar 2023 |
31 Mar 2022 |
Total Assets |
10,529.42 |
11,280.64 |
14,405.73 |
Revenue |
11,634 |
8,714 |
6,119 |
Total Expenses |
13,947 |
12,884 |
9,574 |
Total comprehensive loss |
2,255 |
4,192 |
3,631 |
Total Cash and cash equivalents |
869.10 |
832.52 |
1,096.13 |
Total liabilities |
1,052 |
1,128 |
1,440 |
The online food delivery market in India is poised for significant growth, driven by increased internet penetration, rising disposable income, and changing consumer preferences. According to industry reports, the food delivery market is expected to grow at a compound annual growth rate (CAGR) of 15.98% between 2024 and 2029. This presents a massive opportunity for Swiggy to capture more market share.
Swiggy’s Instamart is also well-positioned to benefit from the rising demand for online grocery delivery services. With the shift toward online shopping accelerated by the COVID-19 pandemic, quick-commerce grocery services are expected to see continued growth.
Swiggy’s focus on technology, customer experience, and service diversification makes it a strong player in both the food delivery and grocery delivery markets.
While the exact details of Swiggy’s IPO are yet to be finalized, here’s what we know so far:
Before investing in Swiggy’s IPO, it’s important to consider both the growth potential and the risks involved. Here are a few points to keep in mind:
Strengths
Risks
Conclusion
Swiggy’s IPO offers a unique opportunity to invest in one of India’s leading online services platforms. With its strong brand, diversified services, and growth potential, Swiggy has positioned itself for long-term success in India’s booming digital economy. However, potential investors should carefully evaluate the company’s financials and consider the risks before making a decision.
As more details about the Swiggy IPO become available, it will be interesting to see how the market reacts and whether Swiggy can achieve its ambitious growth and profitability targets.
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Go to the IPO section, select the IPO you want to apply from the list and click on ‘Apply’.
Fill in the quantity of the number of shares you want to buy. To apply at maximum price, check the cut-off price box and amount is auto calculated. If you want to apply at some other price within the price band, then you can enter the price manually by clicking on “Add bid” option.
Click on proceed to confirm the order. You can view the placed order under “order book”.
Choose the IPO you want to apply from the list. Click on Apply.
Fill in the quantity of shares. To apply at maximum price, check the cut-off price box and amount is auto calculated. If you want to apply at some other price within the price band, then you can enter the price manually by clicking on “Add bid” option.
Check the A/C, UPI details and click on proceed. You will get an UPI link by which payment can be made.
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The lot size and minimum investment required are yet to be announced for Swiggy IPO
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The book runners for the Swiggy IPO are ICICI Securities Ltd, Kotak Mahindra Capital Company Ltd, Citigroup Global Markets India Pvt Ltd, Jefferies India Pvt Ltd, Avendus Capital Pvt Ltd, J.P. Morgan India Pvt Ltd, BofA Securities India Ltd
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