Swiggy, a modern consumer-first technology company, is set to launch its IPO on November 6, 2024. This IPO marks a significant opportunity for investors interested in the burgeoning food delivery and quick commerce sectors. Swiggy offers a unified platform for users to browse, select, order, and pay for food and household items, all delivered right to their doorsteps through an extensive on-demand delivery network.

The Swiggy IPO is structured as a Book Built Issue amounting to a total of ₹11,327.42 Crores, which comprises a Fresh Issue of 1,153.58 Lakh Shares valued at ₹4,499 Crores and an Offer for Sale of 1,750.87 Lakh Shares totaling ₹6,828.42 Crores. The subscription period will close on November 8, 2024, with allotments expected to be finalized on November 11, 2024. The shares are anticipated to be listed on the BSE and NSE around November 13, 2024.

The share price band for the Swiggy IPO is set between ₹371 and ₹390 per equity share, leading to a Market Capitalization of approximately ₹87,298.60 Crores at the upper price. The lot size for the IPO is 38 shares, meaning retail investors need to invest a minimum of ₹14,820. For High-Net-Worth Individuals (HNIs), the minimum investment is 14 lots (532 shares), amounting to ₹2,07,480.

The IPO is being managed by prominent financial institutions, including Kotak Mahindra Capital Company Limited, Citigroup Global Markets India Private Limited, Jefferies India Private Limited, and Avendus Capital Private Limited. The registrar for the issue is LINK INTIME INDIA PRIVATE LIMITED.

Swiggy Limited IPO GMP Today

As of today, the Grey Market Premium (GMP) for the Swiggy Limited IPO stands at ₹0. This indicates that no expected trading activity is taking place based on the Grey Market Premium, which reflects supply and demand in an unregulated market and serves only educational purposes.

Swiggy Limited IPO Live Subscription Status

The IPO will open for subscription on November 6, 2024. Investors can monitor the live subscription status for real-time updates.

Swiggy Limited IPO Allotment Date

The allotment date for the Swiggy IPO is November 11, 2024. Investors can check their allotment status by:

• Visiting the IPO allotment status page.
• Selecting Swiggy Limited IPO from the dropdown.
• Entering the application number, PAN, or DP Client ID.
• Submitting the details to see the allotment status.

Objectives of Swiggy Limited IPO

The proceeds from the Fresh Issue will be allocated as follows:

1. ₹1,648.00 Million for investments in Scootsy, a material subsidiary, for debt repayment.
2. ₹11,787.00 Million for expanding the Dark Store network through setting up new facilities.
3. ₹7,034.00 Million for enhancing technology and cloud infrastructure.
4. ₹11,153.00 Million for brand marketing and promotion to enhance visibility.
5. Funding inorganic growth through acquisitions and general corporate purposes.

Swiggy IPO Review

Despite its innovative platform, Swiggy lacks an identifiable promoter and has faced financial challenges. The company reported revenues from operations of ₹61,197.77 Million in FY2024, down from ₹116,343.49 Million in FY2022. The EBITDA figures have also been negative, indicating ongoing losses.

For the Swiggy IPO, the pre-issue EPS is ₹-10.70, while the post-issue EPS is projected at ₹10.07. The pre-issue P/E ratio is -36.44x, while the post-issue P/E ratio stands at -38.72x, contrasting sharply with the industry average of 634.50x. The RoE for FY24 is -30.16%, reflecting the company's financial strain.

Given the GMP indicating potential listing gains of 0% and the company's financial performance, it is advisable for investors to avoid the Swiggy Limited IPO for both short-term listing gains and long-term investment purposes.

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