Swiggy To File IPO Papers This Week? | Should You Subscribe?

Swiggy is speeding up its IPO plans! The food delivery giant is reportedly all set to file its Draft Red Herring Prospectus (DRHP) with SEBI later this week.

According to media reports, the Bengaluru-based company is eyeing a massive $1 billion raise from the IPO. And there’s more – Swiggy is said to be considering increasing the fresh issue portion, thanks to its improving financial health.

Let’s talk numbers: Swiggy’s revenue shot up by 36%, jumping from ₹8,265 crore in FY23 to ₹11,247 crore in FY24.

At the same time, losses have significantly shrunk—down by 44%—from ₹4,179 crore to ₹2,350 crore.
Swiggy's quick-commerce arm, Instamart, is also expanding fast. It's now operating in 43 cities, up from 27 in March, with 11 of those new cities added in just the last two months.

To help us understand if Swiggy's IPO could be a good bet for investors, we spoke to Avinash Gorakshakar, Director of Research at Profitmart Securities.
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