Swiggy IPO

Company Summary

Founded in 2014, Swiggy Limited provides its users with an easy-to-use platform that they can access via a single app to search, select, order, and pay for food (Food Delivery), grocery, and household goods (Instamart) and have orders delivered to their homes via an on-demand delivery partner network.

The company has five business units

1. Food Delivery
2. Out-of-home consumption, which includes restaurant visits and events
3. Quick Commerce for the delivery of grocery and household items on demand;
4. Supply chain and distribution: business-to-business (“B2B”) deliveries, warehousing, logistics and distribution for wholesalers and retailers
5. Platform innovation for new initiatives and offerings such as Swiggy Genie and Swiggy Minis.

The company’s platform enables restaurant reservations (Dineout) and event bookings (SteppinOut), product pickups/deliveries (Genie), and other hyperlocal commerce activities (Swiggy Minis and others). The company also offers a membership program called “Swiggy One” with discounts and offers, in-app payment solutions such as a digital wallet “Swiggy Money” (a prepaid payment instrument), “Swiggy UPI” and a Swiggy-HDFC Bank credit card for additional benefits.

As of June 30, 2024, Swiggy carried a selection of approximately 19,000 SKUs of grocery and household items. These products include,

1. Everyday convenience purchases such as eggs, bread, fruit, and vegetables.
2. Impulse purchases of snacks and quick meals.
3. Recurring purchases that are typically made on a monthly or weekly basis, such as Household items like shampoo, soap, and others.
4. call-off purchases that are made on an ad hoc basis, such as feminine hygiene, basic pharmaceutical and personal care items, and stationery.
5. occasion and festival-related purchases, which include sweets, festive supplies, and team items at sporting events.

As of June 30, 2024, Swiggy’s Instamart operated a large network of 557 Active Dark Stores across 32 cities in India and as of September 10, 2024, Instamart operated a network of 605 Active Dark Stores across 43 cities in India.

As of June 30, 2024, the company employed 5,401 people.