Swiggy increases IPO size: Company to now raise Rs 5,000 crore in fresh issue up from Rs 3,750 crore

Swiggy Increases Fresh Issue Size to Rs 5,000 Crore from Rs 3,750 Crore.

Expert Analysis:

• Increased IPO Size: Swiggy is increasing its IPO size from Rs 3,750 crore ($450 million) to Rs 5,000 crore ($600 million) via a fresh issue.

• Initial IPO Expectations: Swiggy was initially expected to raise $1.25 billion through its IPO, including Rs 3,750 crore ($450 million) in fresh issue and up to Rs 6,664 crore ($800 million) through the offer-for-sale.

• Total IPO Size Increase: The total IPO size will rise from $1.25 billion to $1.4 billion, pending approval at the EGM on October 3.

• Revenue Growth and Loss Reduction: Swiggy’s revenue grew 36%, from Rs 8,265 crore in FY23 to Rs 11,247 crore in FY24, while losses decreased 44%, from Rs 4,179 crore to Rs 2,350 crore, driven by stronger expense control ahead of its planned IPO later this year.