On Thursday, September 26, Swiggy filed its updated draft papers with capital markets regulator SEBI to raise funds through its highly anticipated initial public offering (IPO), days after filing the IPO paper via confidential route.
According to the updated draft red herring prospectus (UDRHP), the proposed IPO consists of an offer-for-sale (OFS) of 18.52 crore equity shares by current shareholders and a new issue of equity shares worth Rs 3,750 crore.
Total expected size
The company might decide to increase the fresh issue component by an additional Rs 5,000 crore, bringing the total fresh issue component to Rs 11,600 crore, according to a report. This decision will be made by the company at an EGM, which is scheduled for the first week of October.
OFS sellers in refreshed DRHP
With a weighted average cost of acquisition per equity share of Rs 11.17, Accel India IV (Mauritius) Limited plans to sell up to 10,572,706 equity shares.
With a weighted average cost of acquisition per equity share of Rs 13.98, Apoletto Asia Ltd. plans to sell up to 1,696,504 equity shares.
A weighted average cost of acquisition per equity share of Rs 178.90 will be charged by Alpha Wave Ventures, LP on up to 5,573,473 equity shares that are sold.
A weighted average cost of acquisition of Rs 101.49 per equity share is what Coatue PE Asia XI LLC will sell up to 3,885,413 of them.
At a weighted average cost of acquisition per equity share of Rs 11.44, Elevation Capital V Limited plans to sell up to 7,396,253 equity shares.
A weighted average cost of acquisition of Rs 90.81 per equity share is what Inspired Elite Investments Limited is willing to sell up to 6,747,246 of them.
A weighted average acquisition cost per equity share of Rs 131.15 will be charged by MIH India Food Holdings B.V. on the sale of up to 118,215,233 equity shares.
At a weighted average cost of acquisition per equity share of Rs 14.82, Norwest Venture Partners VIIA-Mauritius plans to sell up to 6,406,307 equity shares.
A weighted average cost of acquisition per equity share of Rs 165.47 will be charged by Tencent Cloud Europe B.V. for up to 6,327,243 equity shares that are sold.
Company financials
The food delivery business reported a net loss of Rs 2,350 crore for the most recent fiscal year (FY24). Nonetheless, the business's net loss was cut by 44 per cent from Rs 4,179 crore in FY23.
According to an report, the company's revenue increased by 36 per cent to Rs 11,247 crore in FY24 from Rs 8,265 crore the year before.
Swiggy recorded a gross order value (GOV) of USD 4.2 billion, a 26 per cent YoY increase, with approximately 14.3 million users transacting on the platform each month.
