Swiggy IPO: Check important dates, price band, lot size, minimum investment and key investor info

Swiggy IPO : The Initial Public Offering ( IPO ) of food delivery major Swiggy is set to open on November 6 with the startup planning to raise more than Rs 11,000 crore. 

The startup which emerged as the second most popular food delivery platform has expanded its operations to quick commerce and grocery with Instamart and out-of-house consumption for restaurant reservations with Dineout. The company has also launched SteppinOut as a ticketing platform for event bookings along with Genie which offers pickup/drop-off services for products. 

The stock market investors which are facing a strong wealth depletion since October 2024 will be looking forward to a successful public issue for Zomato ’s key competitor in the market. Here are some of the key details you need to know before Swiggy IPO opens tomorrow: 

Swiggy IPO size 

The food delivery platform is raising Rs 11,327.43 crore with the issue consisting of 11.54 crore shares that amount to Rs 4,499.00 crore and an offer for sale of 17.51 crore shares worth Rs 6,828.42 crores. 

Swiggy IPO lot size and minimum investment 

To subscribe to one lot of the Swiggy IPO, retail investors will have to spend Rs Rs 14,820 whereas the minimum subscription amount for the sNII is 14 lots (532 shares) which amounts to Rs 2,07,480. For bNII the minimum lot size is 68 (2,584 shares), amounting to Rs 1,007,760.

The issue also includes a reservation of up to 750,000 shares for employees at a discount of Rs 25 to the issue price.

Swiggy IPO price band

For the IPO, the price band for a share is set at Rs 371 to Rs 390 per share. 

Swiggy IPO dates 

Prominent investors in Swiggy

Here are some of the top names who have invested in Swiggy: 

• Amitabh Bachchan 
• Rahul Dravid
• Zaheer Khan
• Rohan Bopanna 
• Karan Johar 
• Ashish Chowdhry
• Raamdeo Agrawal
• Madhuri Dixit
• Ritesh Malik

Zomato vs Swiggy: Comparing market caps, quick commerce, and food delivery businesses

Zomato went public in July 2021 with a market capitalisation of nearly $13 billion (Rs 1.07 lakh crore). Since its listing, Zomato’s market cap has more than doubled, now exceeding $25 billion (Rs 2.14 lakh crore) as of November 2024.

Swiggy’s most recent funding round took place in August 2023, raising $46.4 million from P R Venketrama Raja of the Ramco Group as part of its Series K funding. The public issue of Swiggy is expected to value the company at somewhere around $11.3 billion.

In total, Swiggy has raised approximately $3.62 billion across 15 funding rounds, with major investors including Invesco, Tencent, Prosus, and the Baron Group.

Comparing the market size of the two food delivery giants, Macquarie Equities Research in a note stated. “At a headline level, Swiggy appears 4-6 quarters behind Zomato in Food Delivery and Quick Commerce. For Swiggy, the path to catch up in Food Delivery is relatively more straightforward (expand MTU), while that for Quick Commerce is more complex (AOV, mix, ads, sourcing, opex).” 

The research firm also shared that Zomato’s Blinkit is much ahead of Swiggy’s Instamart on the volume of transacting users, higher dark store throughput, higher ads, and direct branding sourcing. 

The average order value of Blinkit is also 25 per cent higher than that of Instamart and its other peers due to higher contribution from Delhi NCR with higher non-grocery share. Blinkit has also gained a 4 per cent contribution margin against Instamart’s negative mark along with money being generated from other sources like ads, customer fees, and lower operational expenses. 

In terms of food delivery, Swiggy and Zomato are competing head to head with Swiggy beating Zomato in terms of monthly transacting users and higher order frequency whereas Zomato is doing much better in terms of gross order value and improved EBITDA margins.