Swiggy's DRHP Reveals Shareholding Pattern and Plans for INR 10,000 Cr IPO - Read Now 

Swiggy, one of India's largest food delivery companies, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for its upcoming Initial Public Offering (IPO). The IPO is valued at INR 10,000 crore (approximately $1.2 billion), with INR 3,750 crore being raised through the issuance of fresh shares and an Offer for Sale (OFS) of 18.53 crore equity shares.

Several major investors will be selling their shares through the OFS, including Accel, Coatue, Alpha Wave, Elevation, Norwest, and Tencent. For instance, Accel India IV will be selling 1.05 crore shares, and Alpha Wave Ventures will divest 55.73 lakh shares.

The funds raised through this IPO will be used for a variety of strategic initiatives. Swiggy plans to allocate INR 929.5 crore for marketing and promotional activities, invest in technology and cloud infrastructure, and explore inorganic growth through acquisitions. Additionally, INR 982.4 crore will be dedicated to Swiggy's subsidiary Scootsy for setting up dark store networks and covering lease expenses.

The DRHP also highlights Swiggy’s plan to expand Scootsy Logistics, which will provide supply chain services like warehouse management and order fulfillment to wholesalers and retailers.

Swiggy’s top shareholders include MIH India Food Holdings B.V., a subsidiary of Naspers, with a 30.95% stake, and SoftBank Vision Fund II with 7.75%. Other notable investors include Accel with 6.08%, Elevation Capital with 3.10%, and Tencent Cloud Europe with 3.64%.

Swiggy's co-founders also own a portion of the company, with Sriharsha Majety holding 6.23%, Lakshmi Nandan Reddy Obul holding 1.76%, and Rahul Jaimini owning 1.14%.

Although food delivery remains Swiggy’s primary revenue source, its quick commerce arm, Instamart, is rapidly growing. However, it continues to face stiff competition from Zomato and Blinkit.

Swiggy’s IPO is managed by Kotak Mahindra Capital, JP Morgan India, BofA Securities, Citigroup Global, and Jefferies, and the company plans to list its shares on both the NSE and BSE.

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