Swiggy Limited

Swiggy Limited, founded in 2014, is one of India’s top platforms in the growing on-demand delivery sector. The company connects millions of users to a broad range of services, including food delivery, grocery shopping, and logistics. With an easy-to-use app, Swiggy has become a significant player, especially in India’s urban areas.

Swiggy’s primary business remains food delivery, but it has expanded into other areas like out-of-home dining through Swiggy Dineout and grocery delivery via Instamart, which has seen substantial growth. The company also offers hyperlocal services, such as Swiggy Genie, and has a robust network of dark stores to enhance quick commerce operations. As of September 2024, Swiggy Instamart runs over 605 dark stores across 43 cities, stocking more than 19,000 items.

Financially, Swiggy has faced consistent losses but has been making strides to improve. For FY24, the company reported a 36% increase in operating revenue to ₹11,247 crore, reducing its net loss to ₹2,350 crore, which is a 44% decrease from the previous year. The company is also preparing for its IPO, aiming to raise approximately ₹11,327 crore, with plans to further scale its operations and invest in its growing quick commerce segment.

Swiggy sees a bright future, projecting substantial growth in the online food and grocery delivery market. The company expects significant user base expansion over the next two decades, capitalizing on India’s evolving consumer trends and rising internet penetration. Additionally, Swiggy’s strategic investments in technology and its diverse range of services are intended to secure its competitive position against major rivals like Zomato.

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Company Financials:

Company Promoters:

The Company does not have an identifiable promoter in terms of the SEBI ICDR Regulations and the Companies Act.

Objects of this Issue:

• Investment in the Material Subsidiary, Scootsy, for repayment or pre-payment, in full or in part, of certain or all of its borrowings.
• Investment in the Material Subsidiary, Scootsy, for (a) expansion of Dark Store network for Quick Commerce segment through setting up of Dark Stores; and (b) making lease/license payments for Dark Stores.
• Investment in technology and cloud infrastructure.
• Brand marketing and business promotion expenses for enhancing the brand awareness and visibility of its platform, across segments.
• Funding inorganic growth through unidentified acquisitions and general corporate purposes.

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