About Company

• Incorporated on December 26, 2013, Swiggy is a new-age, consumer-first technology company offering users an easy-to-use convenience platform, accessible through a unified app - to browse, select, order and pay for food (“Food Delivery”), grocery and household items (“Instamart”), and have their orders delivered to their doorstep through their on-demand delivery partner network.

• Their platform can be used to make restaurant reservations (“Dineout”) and for events bookings (“SteppinOut”), avail product pick-up/ drop-off services (“Genie”) and engage in other hyperlocal commerce activities (Swiggy Minis, among others). Being among the first hyperlocal commerce platforms, Swiggy has successfully pioneered the industry in India, launching Food Delivery in 2014 and Quick Commerce in 2020, and due to the pioneering status of Swiggy, it is well-recognised as a leader in innovation in hyperlocal commerce and as a brand synonymous with the categories it is present in.

• Swiggy augments the value proposition to users through their membership programme called “Swiggy One” providing discounts and offers; in-app payment solutions like digital wallet “Swiggy Money” (a pre-paid payments instrument), “Swiggy UPI”, and Swiggy-HDFC Bank credit card for additional benefits.

• Swiggy earn revenue from sale of services and sale of goods on their platform. Their revenue from services primarily includes:

• Commissions that they charge to their restaurant partners and merchant partners which is a function of the perceived value of their offerings to them on their platform,

• Advertising revenue that they earn from restaurant partners, merchant partners and brand partners for their advertising tools and services,

• Fees that they charge to users and delivery partners for the use of their technology platform and

• Subscription revenue that they earn from users for their Swiggy One membership program.

• Swiggy is unique, as it is the only unified app in India that fulfils through its own platform all food and related missions of urban users of ordering-in, eating-out and cooking-at-home, as of June 30, 2024. According to the Kantar BrandZ Most Valuable Indian Brands Report 2024, Swiggy is the most valuable brand in the Consumer Technology & Services Platforms category and is among the Top 25 most valuable brands in India overall

Strengths

Competitive Strength 

• Pioneers of high-frequency hyperlocal commerce categories driven by an innovation-led culture;

• A consistently growing network of users;

• Rising user engagement on the platform;

• “Swiggy” brand delivered through a unified app with consistent user experience;

• A preferred choice for restaurant partners, merchant partners, brand partners and delivery partners;

• Company’s platform has created strong network effects driven by the wide user and partner base;

• An experienced professional management team and high standards of governance.

Business Strategies 

• Retain and grow user base by expanding the offerings and growing the partner network;

• Expand Dark Store footprint and basket-sizes for Quick Commerce;

• Improve the contribution margin by scaling the operations, and expanding high margin offerings and revenue streams;

• Invest in the technology backbone and optimise the last-mile network to enable efficient scaling of operations to service more users;

• Invest to enhance the brand recall, improve traffic on the app, and increase engagement across businesses.

Company Promoters

Company Financials

Swiggy Limited's revenue increased by 34% and profit after tax (PAT) rose by 44% between the financial year ending with March 31, 2024 and March 31, 2023.

Objects of the Issue

The company proposes to utilize the Net Proceeds towards funding the following objects:

1. Investment in the Material Subsidiary, Scootsy, for repayment or pre-payment, in full or in part, of certain or all of its borrowings;
2. 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;
3. Investment in technology and cloud infrastructure;
4. Brand marketing and business promotion expenses for enhancing the brand awareness and visibility of its platform, across segments; and
5. Funding inorganic growth through unidentified acquisitions and general corporate purposes.