Swiggy IPO : With the Swiggy IPO, the food supplier is taking a significant step towards joining its competitor, Zomato, in the public market. The IPO will consist of a fresh issue of Rs 3,750 crore and an offer for sale (OFS) of over Rs 6,500 crore. This will take the combined IPO size to over Rs 10,000 crore. Investors looking to diversify away from Zomato will keep a close eye on this listing.

Amitabh Bachchan, Madhuri Dixit, and Rahul Dravid invested in Swiggy ahead of the IPO

Swiggy has attracted not just venture capital giants but also high-profile celebrity investors. Several Bollywood stars and sports personalities have acquired stakes in the company in the unlisted market ahead of the IPO. Investors include Bollywood actors Amitabh Bachchan, Madhuri Dixit, and filmmaker Karan Johar. Cricketers Rahul Dravid and Zaheer Khan, tennis star Rohan Bopanna, and Innov8 founder Ritesh Malik have also invested in Swiggy's pre-IPO shares.

Global investors such as SoftBank Vision Fund, Prosus, Accel,, and Elevation Capital also have significant stakes in Swiggy. Apart from this, Motilal Oswal Financial Services Chairman Raamdeo Agarwal is also one of the major shareholders.

Swiggy Founder: When and who created Swiggy

Founded in 2014 by Sriharsha Majety, Nandan Reddy,, and Rahul Jaimini, Swiggy initially focused on food supply but has since grown into a large online platform offering hyperlocal delivery services. Over the years, it has partnered with over 1.5 lakh restaurants in India, giving Swiggy a strong foothold in major cities and tier-2 towns.

Swiggy's growth has been boosted by new areas such as grocery delivery through Instamart, which competes directly with BigBasket and QuickCommerce. Walmart's entry into fast delivery through Flipkart has further intensified the competition. Still, Swiggy's differentiated food is in line with the industry's shift towards convenient services.

Is Swiggy in profit or loss?

Swiggy's financial performance appears to be a challenge regarding profit. In full FY24, Swiggy saw revenue grow 36 percent to Rs 11,247 crore, but the loss still stood at Rs 2,350 crore. However, this was significantly reduced from Rs 4,179 crore in FY23. This loss reduction was due to the company's efforts to control costs and improve margins ahead of the IPO. The updated DRHP shows that the new quarterly loss has increased compared to a year ago.

The condition of Swiggy's competitor Zomato

In contrast, Zomato is projected to post a profit of Rs 351 crore on revenue of Rs 12,114 crore in FY24. Zomato’s success in going public in 2021, as well as its fast commercial expansion through the Blinkit acquisition, has helped it become a company worth over $20 billion.