Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

The IPO (initial public offer) of food and grocery delivery behemoth Swiggy is set to open tomorrow and conclude on November 8, 2024. The entire issue is worth Rs 11,327.43 crore and has a fresh issue component of Rs 4,499 crore and an OFS (offer for sale) of about Rs 6,828.43 crore. With a price band of Rs 371-390, retail investors will be required to invest a minimum of Rs 14,820 to get their hands on Swiggy's shares. Swiggy, which will tentatively list on the bourses on November 13, 2024, is seeking to raise Rs 1,952.43 crore more than its rival <keyword id="830092" type="General" weightage="20" keywordseo="zomato" source="Orion">Zomato</keyword>, which went public in July 2021 and was looking to raise Rs 9,375 crore. Zomato's offer was oversubscribed around 38.25 times, with retail investors subscribing 7.45x to the issue. Notably, only around 15% of Swiggy's total issue will be made available to retail investors. Moreover, Swiggy's IPO is not garnering the same buzz if its present GMP (<keyword id="938640" type="General" weightage="20" keywordseo="grey-market-premium" source="Orion">grey market premium</keyword>) trends are to be believed. The company's last traded GMP was Rs 7, taking its estimated listing price to Rs 397 (upper end of its price band, i.e., Rs 390 + Rs 7), and its potential listing gains per share at a minimal 1.79%. Last week, Swiggy's GMP was at Rs 25, before tumbling to Rs 18, and then momentarily stabilizing at Rs 22 before its steep fall to present levels of Rs 7. <h2>Strengths and weaknesses</h2> Since its inception in 2014, Swiggy's bottom line has been in red, unlike that of its rival Zomato, which turned profitable in the first quarter of FY24. In FY22, its total income was Rs. 6119.78 crore with a net loss of Rs. 3628.90 crore. While the company's total income increased to Rs. 8714.45 crore in FY23, it also spelled a corresponding rise in its net losses, which surged to Rs. 4179.31 crore. The trend varied a little in FY24 when Swiggy's total income rose to Rs 11,634.35 crore while its net loss reduced to Rs. 2,350.24 crore. However, in the first quarter of FY25, ending June 30, 2024, the company's total income stood at Rs 3,310.11 crore and a net loss of Rs. 611.01 crore. While Swiggy did achieve 42.4% revenue growth between FY2022-223, most of its revenue is sourced from the top 50 of the 500 Indian cities it is currently operational in. Even in this regard, Zomato, which operates in around 1,000 cities across India, has an edge. <h2>Some say invest, some say avoid</h2> Some experts are advising against subscribing to this IPO. Per SAMCO Securities, "As of FY 2024, Swiggy Limited continues to operate at a loss, in contrast to its competitor, Zomato Limited, which has recently achieved profitability. Given Swiggy’s current financial position, competitive pressures, associated risks, and valuation, its IPO appears overvalued. Therefore, investors should avoid this IPO until the company’s financial performance and growth outlook improve. Waiting until Swiggy demonstrates improved financial results and a clearer path to sustainable growth would be a more prudent investment approach. Per Bajaj Broking's IPO note, Swiggy's IPO can be subscribed to from a long-term perspective. However, it also highlights that Swiggy's offer document is missing PAT (profit after tax) and RoCE (returns on capital employed) data. "For the last three fiscals, the company has reported an average EPS of Rs - (14.90) and an average RoNW of - (35.39%). The issue is priced at a P/BV of 11.60 based on its NAV of Rs. 33.61 as of June 30, 2024, and is at a P/BV of 7.31 based on its post-IPO NAV of Rs. 53.36 per share (at upper cap). If we attribute annualized FY25 earnings to a post-IPO fully diluted equity base, then the asking price is at a negative P/E, and based on FY24 earnings also, it is at a negative P/E, as the company has posted losses for those periods. On other parameters, the issue appears aggressively priced," it further adds. Gaurav Garg, research analyst at Lemonn Markets Desk, notes that it might take some time for Swiggy to reach Zomato's level, both in terms of valuation and AOV (average order value). Swiggy's valuation has been pegged at about Rs 95,000 crore, at the upper price band, while Zomato has a market valuation of Rs 2.13 lakh crore. "Almost 50% valuation compared to Zomato gives some comfort, although it should not be considered an arbitrage in valuation. If Swiggy’s EBITDA catches up to 3-4% in the food delivery business, which is currently at 1%, and Average Order Value (AOV) improves to Rs. 550-600 levels in quick commerce with a higher non-grocery share, we can see bridging in the valuation gap. However, this should not be expected in the near term," he adds.

Swiggy's IPO set to open tomorrow. Should you subscribe?

Think Initial Public Offers (IPOs) are a sure-shot, quickfire method to make a quick buck? If so, then investing in some of India's biggest IPOs to date would have created multiple millionaires. However, if the data is to be believed, 18 out of India's top 30 IPOs by way of size have failed to deliver on the returns front. Recent data from Capitalmind PMS suggests that of all the mega IPOs India has seen in the past 2 decades, only 12 IPOs i.e. stocks of 12 companies have delivered more returns that what you would have received, had you bought and held your investments in Nifty500(which invests in biggest 500 companies by market size). Infact, Paytm (54%), <keyword id="20024191" type="General" weightage="20" keywordseo="Reliance-Power" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Power" meta.hostid="261" meta.entityid="Reliance Power">Reliance Power</keyword> (81%), General Insurance Corporation (2%) actually generated negative total returns to date. The only outliers in the list of top 10 IPOs were Zomato (listed in July 2021) and Coal India (listed in April, 2010), which managed to generate excess returns i.e. more than what was generated by Nifty500. While Zomato's total return to date, which is considered a comprehensive gauge of a stock's profitability, stands at 265%, Coal India total returns are a massive 443%. In these cases, had you simply bought and held the Nifty500 index for a similar duration, your returns would've been 73%, and 435% respectively. Also, 5 of the biggest IPOs India has ever seen (Bajaj Housing Finance, Bharti Hexacom, Brainbees, Ola Electric) have come in the last 2 years. In some cases, having stayed put in your index investments would have yielded you far better returns. Consider this, FSN E-Commerce, Nykaa's parent company, listed on the exchanges on November 2021. Its total returns till date have been 2%, while had you invested in Nifty500 index, your returns would've been 53%. Similarly, the total returns to date on Bandhan Bank's stock, which listed in March 2018, was a negative 43%. But, the index has delivered a whopping 163% returns during the same time. Hits and Misses <table class="redcator-table-advance"><tbody><tr><td>Company Name</td><td>Total Returns to Date (In %)</td><td>CNX (Nifty500) Returns (In %)</td></tr><tr><td>Reliance Power (Feb 2008)</td><td>-81</td><td>961</td></tr><tr><td>Zomato (July 2021)</td><td>265</td><td>73</td></tr><tr><td>Gland Pharma (November 2020)</td><td>14</td><td>124</td></tr><tr><td>NHPC (September 2009)</td><td class="se-table-selected-cell">389</td><td>961</td></tr><tr><td>Indian Railways Finance Corporation (January 2021)</td><td>582</td><td>109</td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Source: CapitalMind PMS <h2>Surge in IPOs? Not really </h2>It is impossible to overlook the sheer number of public offerings seen in the Indian markets over the past 2 years. Around 600 share sale offers have already hit the market since 2023. Out of these, 335 have come in this year, as of October 2024. While over Rs 50,000 crores have been raised by these share sales so far since 2023, only 22% of these funds raises have come from companies who are hitting the market for the first time i.e. bringing out their IPOs. The rest have come from already listed companies seeking to raise more funds. The biggest IPO that India has seen to date, that of <keyword id="19906087" type="General" weightage="20" keywordseo="Hyundai" source="keywords" meta.keywordsubtype="org" meta.entityname="Hyundai" meta.hostid="261" meta.entityid="Hyundai">Hyundai</keyword> Motor India, closes for subscription today. With an offer size of Rs 27,870.16 crore, it is 35% bigger than the previous biggest IPO in the country(LIC in May 2022). As of 12:30 pm today, Hyundai's offer had been 87% subscribed, with significant interest from QIBs and employees. At 0.43x, participation of retail investors remained largely subdued. Notably, an IPO is considered cancelled and withdrawn, if it fails to meet the 90% subscription threshold.

Do large IPOs guarantee large returns? Data suggests that 18 of India's biggest 30 IPOs did not generate solid returns

Three years after rival <keyword id="19901323" type="General" weightage="20" keywordseo="Zomato" source="keywords" meta.keywordsubtype="org" meta.entityname="Zomato" meta.hostid="261" meta.entityid="Zomato">Zomato</keyword> went public, raising Rs 9,375 crores, food and grocery delivery behemoth Swiggy is set to open for subscription on the Indian bourses between November 6th and 8th, 2024. Looking to raise Rs 11,327.43 crore from the markets, Swiggy has set a price band of Rs 371 to Rs 390 per share. The company is targeting a valuation of $11.3 billion, around 25% down from its initial target of $15 billion. The issue comprises Rs 4,499 crore worth of fresh issue, with the remaining Rs 6,828.43 crore coming via <keyword id="19951016" type="General" weightage="20" keywordseo="OFS" source="keywords">OFS</keyword> (offer for sale), with stakeholders like <keyword id="20294899" type="General" weightage="20" keywordseo="Prosus" source="keywords" meta.keywordsubtype="org" meta.entityname="Prosus" meta.hostid="261" meta.entityid="Prosus">Prosus</keyword> offloading about 5.2% of their stakes, which could translate into proceeds worth $510 million. The offer will conclude on November 8, and listing is tentatively scheduled for November 13, 2024. Other stakeholders who will be participating in the OFS at the present valuation include <keyword id="20064356" type="General" weightage="20" keywordseo="Accel" source="keywords" meta.keywordsubtype="org" meta.entityname="Accel" meta.hostid="261" meta.entityid="Accel">Accel</keyword>, which will sell around $60 million worth of their stake. Elevation Capital and Tencent's stake sale could earn them up to $30-35 million each. Swiggy's CEO <keyword id="20304807" type="General" weightage="20" keywordseo="Sriharsha-Majety" source="keywords">Sriharsha Majety</keyword> and co-founder Nandan Reddy are also expected to offload their shares. Currently, they hold 6.23% and 1.76% stakes in the company, respectively. The sale of around 0.1% stake by each is expected to earn them about $14 million in total. Notably, the company does not have any identifiable promoters, as per SEBI ICDR Regulations and the Companies Act 2013. From funds raised via IPO, the company plans to allot Rs 1,648 million for repaying borrowings made by its subsidiary, Scootsy. The app, which operated independently of Swiggy, offered <keyword id="20299302" type="General" weightage="20" keywordseo="food-delivery" source="keywords">food delivery</keyword> services from a selected list of high-end bakeries and restaurants in the city. Notably, Swiggy had acquired Scootsy in 2018 at a reported valuation of Rs 50 crore. However, Swiggy's foray into the premium-food delivery segment did not pan out well, and the company decided to shut Scootsy in 2020. However, per the company's RHP (red herring prospectus), Swiggy is planning to reinvest and revive Scootsy for extending their dark store network and making lease/license payments for the same. About Rs 11,787 million would be utilised for expanding Swiggy's dark store network for its quick commerce wing, <keyword id="20255906" type="General" weightage="20" keywordseo="Instamart" source="keywords">Instamart</keyword>. Swiggy has also allocated Rs 11,153 million for enhancing the brand's visibility and outreach. <h2>Negative cash flows from operations</h2>The company has only incurred net losses since its inception in 2014. However, the company's annual losses as a percentage of its revenue from operations has come down in the recent years. From 63.61% in 2022 to 20.90% in 2024, the losses as part of its revenue from operations further narrowed to 18.96% for the quarter ended June 30, 2024. Moreover, Scootsy is yet to receive requisite registrations and approvals for each of the dark store it intends to set up. It does not help that Scootsy has not run into greens over the past 2-3 years. The subsidiary had incurred losses worth Rs 2,953.5 million, which have burgeoned to Rs 4,239.72 million in FY24. Swiggy also lags behind its rival Zomato in terms of monthly transacting users (MTU), along with many other key financial and operational metrics. Zomato has a wider, pan-India presence, commanding a 57% <keyword id="20038792" type="General" weightage="20" keywordseo="market-share" source="keywords">market share</keyword> in FY24. Compared to this, Swiggy's market share stood at 43% during the same period. As of FY24, Swiggy's MTUs, at 12.7 million, are about 31% lower than Zomato's MTU of 18.4 million.

Swiggy sets IPO price band between Rs 371-390/share; offer likely to open on November 6th. Here's all you need to know

The much-anticipated IPO (<keyword id="20478869" type="General" weightage="20" keywordseo="initial-public-offer" source="keywords">initial public offer</keyword>) of food and grocery delivery giant Swiggy is expected to go live between November 6th and 8th, 2024, with the window for <keyword id="21330641" type="General" weightage="20" keywordseo="anchor-investors" source="keywords">anchor investors</keyword> likely to open on November 5, 2024. The offer consists of around Rs 3,750 crore worth of <keyword id="20953853" type="General" weightage="20" keywordseo="fresh-issue" source="keywords">fresh issue</keyword> and an offer for sale (OFS) of around 18.53 crore shares. All in all, the total issue is expected to be in the range of Rs 11,700 crore and Rs 11,800 crore. Per media reports, the fresh issue component is expected to be pushed up to Rs 4,500 crore, with the company now targeting a diluted valuation of $11.3 billion, as opposed to its previous target of $15 billion. The 25% slash is done to aid retail investors. Per the company, it does not want a "bad IPO." Notably, Swiggy's rival <keyword id="19901323" type="General" weightage="20" keywordseo="Zomato" source="keywords" meta.keywordsubtype="org" meta.entityname="Zomato" meta.hostid="261" meta.entityid="Zomato">Zomato</keyword>, which recently reported a staggering 389% YoY jump in its net profits, also recently announced that it is taking the QIP (qualified institutional placement) to raise Rs 8,500 crore. For the quarter ended September 30, 2024, Zomato earned a net profit of Rs 176 crore. Over the last year, i.e., between March 2023 and 2024, Swiggy saw its revenue from operations jump by 34% from 8,714.45 crore in FY23 to Rs 11,634.35 crore in FY24. The company's losses also narrowed down to Rs 2,350.24 crore in FY24, from Rs 4,179.31 crore in FY23. Swiggy's rival Zomato had gone public in July 2021, with an offer size of Rs 9,375 crore. At present, the company's stock was trading at Rs 251.95, having surged a whopping 138.48% over the last year. As of August this year, the company's quick commerce wing, <keyword id="20255906" type="General" weightage="20" keywordseo="Instamart" source="keywords">Instamart</keyword>, has a network of 605 active dark stores across 43 Indian cities. Some of the major existing investors in Swiggy include Prosus, which holds a 32% stake, SoftBank, which has an 8% stake, and Accel, which holds a 6% stake in the company. Notably, <keyword id="23707337" type="General" weightage="20" keywordseo="market-watchdog-SEBI" source="keywords">market watchdog SEBI</keyword> had approved Swiggy's IPO via the confidential filing route. Under this mechanism, companies can file for a DRHP (draft red herring prospectus) without making it public. The company has the power to decide when to make this document available for public view after having incorporated the suggestions of the regulator.

Swiggy IPO likely between November 6-8, 2024. Here's all you need to know

<ul><li>Co. looking at fresh issue worth Rs 9,000 crore </li><li><keyword id="23310552" type="General" weightage="20" keywordseo="pre-IPO-shares" source="keywords">Pre-IPO shares</keyword> lapped up by <keyword id="19901337" type="General" weightage="20" keywordseo="Karan-Johar" source="keywords">Karan Johar</keyword>, <keyword id="19898963" type="General" weightage="20" keywordseo="Amitabh-Bachchan" source="keywords">Amitabh Bachchan</keyword>, <keyword id="19923639" type="General" weightage="20" keywordseo="Rahul-Dravid" source="keywords">Rahul Dravid</keyword></li><li>SEBI greenlights company's IPO in November this year</li></ul>Food and grocery delivery behemoth <keyword id="19896956" type="General" weightage="20" keywordseo="Swiggy" source="keywords" meta.keywordsubtype="org" meta.entityname="Swiggy" meta.hostid="261" meta.entityid="Swiggy">Swiggy</keyword> is all set to launch its IPO in November this year. The firm is likely to raise around Rs 11,000 crore, which will include a fresh issue of Rs 5,000 crore, via the confidential filing route. In contrast, its counterpart Zomato, which came out with its IPO in 2021, was looking to raise Rs 9,375 crore, which included a fresh issue worth Rs 9,000 crore, and an OFS (offer for sale) worth Rs 375 crore. However, the company's pre-IPO shares have already drawn the attention of multiple prominent investors, the likes of which include Bollywood biggies like Amitabh Bachchan, Madhuri Dixit, Rahul Dravid, Karan Johar, tennis star Rohan Bopanna and cricketing legends like Rahul Dravid and Zaheer Khan. Even market veteran Ramdeo Agrawal, who heads Motilal Oswal Group, has also acquired a stake in the company. First introduced by market regulator in 2022, this method allows companies to keep their offer document, or DRHP (draft red herring prospectus) out of public eye, till the time they strengthen their IPO plans. However, the company will have to put out its updated draft red herring prospectus, or UDRHP for public review, allowing 21 days for them to offer feedback, before proceeding with their IPO. If it goes through, Swiggy will become the first company to go public via this route. Previously, Tata Sky had planned to go public via this way, but eventually ended up dropping its plans. <h2>About Swiggy </h2>Currently valued at a staggering $9.8 billion, the company, which enjoys a duopoly with Zomato in the <keyword id="20299302" type="General" weightage="20" keywordseo="food-delivery" source="keywords">food delivery</keyword> space, Swiggy has, till date, seen 16 funding rounds, where it has raised a total of $3.62 billion from 57 institutional and 9 angel investors. Per the company's annual reports, the company's net sales during FY2023 was Rs 46,533 million, which rose to Rs 63,723 million in 2024. Recently, the company also saw an uptick in its average monthly transacting users of 32%(from 1.1 million in FY22 to 4.2 million in FY24), and average order value of 16% (from Rs 394 in FY22 to Rs 460 in FY24). The company's quick delivery segment, Instamart, also managed to earn more revenue than Blinkit, which is operated by Zomato. In FY23, Instamart earned Rs 870 crore, while Blinkit raked in Rs 664 crore during the same period. However, estimates suggest that Blinkit is set to earn more than Instamart in FY24. While the company's food delivery segment turned profitable in 2023, the company overall continued to remain in losses. Swiggy incurred a loss of Rs 35,247 million in FY2023, which narrowed down to Rs 17,854 million in FY2024. See also: <div type="Article" hostid="261" msid="113661667" title="The “ultimate Zomato and Swiggy hack” might be opting for COD while placing your order, claim redditors!" mstype="2" mssubtype="0"></div> <div type="Article" hostid="261" msid="113658837" title="Hyundai Motor India’s ₹25,000 crore IPO gets SEBI approval – India’s biggest IPO expected to launch in October" mstype="2" mssubtype="0"></div>

Swiggy IPO likely in November, looking to raise Rs 11,000 crore; Rahul Dravid, Karan Johar bite into pre-IPO pie

Food and grocery delivery behemoth <keyword id="6358977" type="General" weightage="20" keywordseo="Swiggy" source="Orion">Swiggy</keyword> is on a roll, pushing out multiple new services simultaneously, ahead of the festive season, and its much-touted Rs 11,664 crore IPO. Experts anticipate the IPO to hit the bourses in the upcoming months. Earlier last week, the company's shareholders had approved of raising the fresh issue component of the IPO, from Rs 3,750 crore previously to Rs 5,000 crore. This will allow Swiggy to add an extra Rs 1,250 crores to its coffers for future growth. The remaining Rs 6,664 crore will be an OFS (offer for sale), largely paving a way for Swiggy's old investors to exit. In the buildup to its IPO, the delivery giant is dialing up the competitive fever big time with rival <keyword id="19901323" type="General" weightage="20" keywordseo="Zomato" source="keywords" meta.keywordsubtype="org" meta.entityname="Zomato" meta.hostid="261" meta.entityid="Zomato">Zomato</keyword>, which went public in 2021. Swiggy recently launched <keyword id="23440051" type="General" weightage="20" keywordseo="XL-Fleet" source="keywords">XL Fleet</keyword> for large-scale <keyword id="20299302" type="General" weightage="20" keywordseo="food-delivery" source="keywords">food delivery</keyword> and Bolt, which is an <keyword id="23461052" type="General" weightage="20" keywordseo="AI-powered-logistics" source="keywords">AI-powered logistics</keyword> system. Per some media reports, the company is also launching an invite-only concierge membership program called the "Rare Club", which will have an annual fee of up to Rs 50,000. <h2>Who doesn't love a little pettiness? </h2>But that's not it. In the time being, Swiggy is also aggressively looking for ways to gain maximum public attention, one of which is by sponsoring the fourth season of the popular entrepreneurial reality show <keyword id="11924074" type="General" weightage="20" keywordseo="shark-tank-india" source="Orion">Shark Tank India</keyword>. But here's the catch-a key condition of this deal is to not bring back Zomato CEO <keyword id="19901325" type="General" weightage="20" keywordseo="deepinder-goyal" source="keywords">Deepinder Goyal</keyword> as a shark. Media reports suggest that Swiggy is set to close on a massive Rs 40-60 crore sponsorship deal with the show. But in a seemingly low-ball move, Swiggy has blocked the return of Zomato CEO Deepinder Goyal as one of the investors on the show. Goyal had made his debut on the third season of the show, and was looking to make a comeback alongside long-time regulars such as Anupam Mittal, Aman Gupta, Namita Thapar and Peyush Bansal. <h2>Bolting ahead with XL</h2>In a move that clearly underlines its ambitious expansion plans, Swiggy also recently announced the launch of its new XL Fleet service, which will look to cater exclusively to bulk orders and large-scale food deliveries. Per Swiggy's co-founder Nandan Reddy, XL is a natural evolution of Swiggy's services. As it is, a recent report by Bain and Company highlighted that India's food services market is set to double to a massive Rs 9 trillion by 2030, surging up significantly from its current standing of Rs 5.5 trillion. Not just that, the customer base is also set to expand from 320-340 million as of 2023 to 430-450 million by the end of the decade. Earlier this year, Zomato had also stepped in this segment by launching its large-order electric fleet, which could serve orders for a gathering of up to 50 people. Alongside this, Swiggy has unveiled Bolt, which is an AI-powered logistics system specifically designed to optimize delivery routes, predict demand patterns, and improve overall operational efficiency. The aim is to bring down on delivery time and costs, giving Swiggy a massive competitive edge in the growing food and quick delivery market. With this feature, Swiggy claims that users can get certain meals such as burgers, <h2>Challenges Await </h2>As of FY24, Swiggy's operating revenue stood at ₹112.5 billion, a 36% jump from the previous year. The company also managed to reduce its net losses by as much as 44% to ₹23.5 billion. While these may come across as positive signs, which are also pushing the company's unlisted shares to new heights, Swiggy significantly lags behind Zomato in both food delivery and quick commerce segment. Consider this. Per Morgan Stanely, as of FY24, Swiggy's GOV (gross order value) at Rs 24,700 crore, was far lower than Zomato's Rs 32,200 crore. Swiggy's GOV and AOV grew at a CAGR of 15.5% and 2.5% respectively, between FY22-24. In contrast, Zomato's GOV and AOV registered a CAGR of 23% and 3.7%, respectively. At 12.7 million, Swiggy's MTU (monthly transacting users) for FY24 were also a far cry behind Zomato's 18.4 million. Even when it comes to average order value (AOV), Swiggy's Instamart lags behind Zomato's Blinkit. This is also why analysts believe that despite Swiggy narrowing the gap on most key metrics like AOV, GOV and more, the company's share will command a lower valuation than that of its rival Zomato.

Ahead of much awaited IPO, what is Swiggy upto? Launching XL Fleet, premium membership and kicking out Zomato CEO

Food delivery and quick-commerce behemoth Swiggy's initial public offering (IPO) closes for subscription today. The issue has already been subscribed about 213% as of 1:35 pm today. The offer garnered massive interest from QIB (qualified institutional buyers), who subscribed 3.46x to it, bidding for 30,09,09,954 shares as against 8,69,23,475 shares allotted for them. The company will tentatively list on both BSE and NSE on November 13, 2024. Swiggy's employees also gave the IPO a thumbs-up, subscribing 1.42x to the offer. Around 7,50,000 shares were reserved for employees in the IPO, at a discount of Rs 25 to the issue price. On the other hand, retail investors subscribed to 99% of their potion. At the same time, the NII (non-institutional category) fetched a muted response, with investors subscribing to only 25% of shares in their category. <h2>Dull GMP</h2> Pre-IPO, Swiggy had also lapped up Rs 5,085 crore from anchor investors. With a price band of Rs 371-390, the company is looking to raise Rs 11,327 crore from the IPO. Out of this, the fresh issue component is worth Rs 4,499 crore, and the offer for sale (OFS) is Rs 6,828 crore. Investors can expect dampened listing day gains, going by the trends in the GMP (grey market premium) market. The company's last-traded GMP was at a mere Rs 1, taking the estimated listing price to Rs 391 (upper end of the price band at Rs 390 + GMP), which means that the potential gain per share would be a minuscule 0.26%. Per InCred Equities, the IPO can be subscribed to since the company has favorable scale and potential to tap in long-term opportunities. Quick commerce provides growth runaway, while the food delivery vertical has the potential to improve the margin and cash flow going ahead. Per the company's Q1FY25 earnings report, it generates 47% of revenue from the food delivery business and 39% from its supply chain and distribution business (operated via Scootsy Logistics Private Limited). About 12% of the company's revenue comes from its quick commerce wing i.e. Instamart, while Dineout (eating out) and platform innovations make up about 1% each of the revenue. "Swiggy’s IPO price band implies 1) EV/revenue multiple of ~6.5x, 2) EV/GOV of ~2.1x, and 3) a P/S of ~6.7x based on annualized FY25F financials. The valuation is at a discount to Zomato, which trades at an EV/revenue multiple of ~11.3x, an EV/GOV of ~3.2x (annualized), and a P/S of ~11.4x based on FY25F consensus estimates. Internal controls, as reflected in the auditor’s qualified opinion, and increased competitive intensity are the key downside risks, in our view," InCred further adds. Notably, in FY23 and FY24, auditors raised concerns over loans given to subsidiaries, namely Supr Infotech and Scootsy which may impact Swiggy's overall financial stability. Some of the qualifications highlighted by the auditors include potential impairment, interest payment delay, and using new loans to cover interest costs.

Swiggy IPO subscribed to 2.13 times on last day of the offer

<ul><li><keyword id="1941007" type="General" weightage="20" keywordseo="Waaree-Energies" source="Orion">Waaree Energies</keyword> is expected to announce its IPO share allotment status on Thursday, October 24.</li><li>The shares of Waaree Energies were subscribed 76.34 times.</li><li>The Waaree Energies shares are expected to be listed on the stock exchanges on October 28.</li></ul>Mumbai-based Waaree Energies, a manufacturer of solar PV modules is expected to announce the allotment status of its initial public offering (IPO) on Thursday, October 24. The <keyword id="12201442" type="General" weightage="20" keywordseo="Waaree-Energies-ipo" source="Orion">Waaree Energies IPO</keyword> opened on October 21 and closed on October 23. The price band for the Waaree Energies IPO was ₹1,427 to ₹1,503 per share. <h2><keyword id="23597813" type="General" weightage="20" keywordseo="Waaree-Energies-ipo-subscription" source="Orion">Waaree Energies IPO subscription</keyword> status</h2>On its last day, the Waaree Energies IPO was subscribed 76.34 times, receiving bids for 160.92 crore equity shares against 2.11 crore shares on offer. While the qualified institutional buyer (QIB) portion was subscribed 208.63 times, the non-institutional investor's portion was subscribed 62.48 times. The retail portion also witnessed good participation and was subscribed 10.79 times. The employee portion was subscribed 5.17 times. <h2>Waaree Energies <keyword id="22158953" type="General" weightage="20" keywordseo="IPO-GMP" source="keywords">IPO GMP</keyword></h2>The shares of Waaree Energies are currently commanding a grey market premium (GMP) of ₹1,375 per share. GMP is the premium at which IPO shares are traded in an unofficial market before they are listed on the stock exchanges. <h2>How to check the Waaree Energies IPO’s allotment status</h2>You can check the Waaree Energies <keyword id="20660173" type="General" weightage="20" keywordseo="IPO-allotment" source="keywords">IPO allotment</keyword> status on the registrar’s website. <ul><li>To check the Waaree Energies IPO allotment status, visit the registrar’s website<a href="https://linkintime.co.in/initial_offer/public-issues.html"> here</a>. </li><li>Click on ‘Select Company’ and then select ‘Waaree Energies’. </li><li>Now, enter your PAN, application number, DP / Client ID or Account number / IFSC. </li><li>Click on submit. </li></ul>You will be able to see your Waaree Energies IPO application status. It will display the number of shares that you have applied for and the number of shares that have been allotted to you. You can also check the Waaree Energies IPO allotment status on the BSE and NSE websites. To check the allotment status on the BSE or NSE website: <ul><li>Go to the BSE<a href="https://www.bseindia.com/investors/appli_check.aspx"> website</a>. </li><li>On the website, click on 'Equity' and then select ‘Waaree Energies’ from the dropdown menu. </li><li>Now, enter your application number and PAN. </li><li>Click on 'Search'. </li></ul>You will be able to see the number of Waaree Energies shares allotted to you. You can click<a href="https://www.nseindia.com/products-services/initial-public-offerings-bid-verification"> here</a> and log in to check your Waaree Energies IPO allotment status on NSE. <h2>Waaree Energies IPO listing date</h2>The shares of Waaree Energies will be listed on the stock exchanges on October 28. Disclaimer: The content on this website is for informational purposes only and should not be construed as investment advice. We recommend that readers consult certified, qualified, registered advisors for professional and personalised financial advice. SEE ALSO: <a href="https://www.businessinsider.in/tech/apps/news/diwali-gift-zomato-platform-fee-increased-to-rs-10-ahead-of-the-festive-season/articleshow/114493617.cms">Diwali gift from Zomato – Platform fee increased to ₹10 ahead of the festive season</a> <a href="https://www.businessinsider.in/stock-market/webstories/afcons-infrastructure-ipo-gmp-risk-factors-and-all-you-need-to-know/slidelist/114490954.cms">Afcons Infrastructure IPO – GMP, risk factors and all you need to know</a> <a href="https://www.businessinsider.in/tech/news/upi-refund-scam-to-digital-arrest-scam-here-are-most-common-online-scams-in-india/articleshow/114428011.cms">UPI refund to digital arrest scam, here are some online scams you need to be aware of</a>

Waaree Energies IPO allotment – How to check allotment, IPO GMP, listing date and more

Food and grocery delivery behemoth <keyword id="19901323" type="General" weightage="100" keywordseo="Zomato" source="keywords" meta.keywordsubtype="org" meta.entityname="Zomato" meta.hostid="261" meta.entityid="Zomato">Zomato</keyword> declared its <keyword id="23466580" type="General" weightage="20" keywordseo="Q2FY25-results" source="keywords">Q2FY25 results</keyword> today. The company's revenue from operations stood at Rs 4,799 crore, up from Rs 2,848 crore from the year-ago period. Zomato's GOV (gross order value) for its B2C business was at Rs 17,670 crore, a 55% YoY growth. On a like-for-like basis, i.e., excluding the impact of the acquisition of <keyword id="19898109" type="General" weightage="20" keywordseo="Paytm" source="keywords" meta.keywordsubtype="org" meta.entityname="Paytm" meta.hostid="261" meta.entityid="Paytm">Paytm</keyword>'s ticketing business, the GOV growth stood at 53% YoY. However, the company's <keyword id="19942166" type="General" weightage="20" keywordseo="net-profit" source="keywords">net profit</keyword> skyrocketed, jumping by 389% YoY. For the quarter ended September 30, 2024, Zomato's net profit stood at Rs 176 crore, significantly up from the Rs 36 crore level in the year-ago period. Ahead of the IPO of rival food and grocery delivery competitor <keyword id="19896956" type="General" weightage="20" keywordseo="Swiggy" source="keywords" meta.keywordsubtype="org" meta.entityname="Swiggy" meta.hostid="261" meta.entityid="Swiggy">Swiggy</keyword>, Zomato's board also approved the raising of Rs 8,500 crore through qualified institutional placement of equity shares. “While the business is now generating cash (vis-à-vis a loss-making business at the time of the IPO), we believe that we need to enhance our cash balance given the competitive landscape and the much larger scale of our business today,” said the company, explaining the fundraise. Additionally, in a letter to shareholders, Founder and CEO <keyword id="19901325" type="General" weightage="20" keywordseo="Deepinder-Goyal" source="keywords">Deepinder Goyal</keyword> shared that the "District" app, a new platform aimed at consolidating going-out services such as dining, movies, sports ticketing, live performances, shopping, and staycations, is expected to go live within the next month. "At this point, we are focused on making sure we do a good job at migrating the business from the Zomato and Paytm platforms to the new District app," Goyal added. During the reported quarter, Zomato made many notable acquisitions, which include Orbgen Technologies Private Ltd (OTPL) and Wasteland Entertainment Pvt Ltd (WEPL). These were the holding companies of Paytm's' movie ticketing' business and events business, respectively. In the letter to shareholders, the company's Chief Financial Officer, Akshant Goyal, shared that its cash balance had reduced by Rs 1,726 crore as compared to the previous quarter, mainly on account of the deal consideration of Rs 2,014 crore for the acquisition of Paytm's entertainment ticketing business.". <keyword id="20069203" type="General" weightage="20" keywordseo="Blinkit" source="keywords">Blinkit</keyword>, Zomato's quick commerce business, saw a 129% year-on-year growth in adjusted revenues, which touched Rs 1,156 crore. Blinkit's gross order value (GOV) also saw a 122% year-on-year increase to Rs 6,132 crore. Blinkit saw massive improvements on almost all operational metrics. The average order value jumped from Rs 607 in the year-ago period to Rs 660 in Q2 FY25. The average GOV per day per store also inched up from 757 in Q2FY24 to 981 in Q2FY25. Similarly, orders also skyrocketed from 45.5 million in the year-ago period to 92.9 million for the quarter ended September 30, 2024. As for Zomato's <keyword id="20299302" type="General" weightage="20" keywordseo="food-delivery" source="keywords">food delivery</keyword> business, the average monthly transacting users also inched up from 18.4 million in Q2 FY24 to 20.7 million in Q2 FY25. The results did not do much to move Zomato's stock on the bourses, which fell by 3.44% during the day to close at Rs 256.55.

Zomato's net profit jumps 389% YoY, board approves Rs 8,500 crore fund-raise proposal

Shares of newly listed <keyword id="20413850" type="General" weightage="20" keywordseo="Hyundai-Motor-India-Ltd-" source="keywords" meta.keywordsubtype="org" meta.entityname="Hyundai Motor India Ltd." meta.hostid="261" meta.entityid="Hyundai Motor India Ltd.">Hyundai Motor India Ltd.</keyword> (HML), the Indian arm of South Korean automaker giant Hyundai, jumped 5% today, a day after India's biggest-ever <keyword id="19898327" type="General" weightage="20" keywordseo="IPO" source="keywords">IPO</keyword> worth Rs 27,870.16 crore made a lackluster debut on the bourses. As of 2:15 pm today, HMIL's shares were trading at Rs 1,910.00 on NSE, up by 4.97%. On BSE, shares of HMIL were also up by 4.76%, trading at Rs 1,907. The IPO had a price band of Rs 1,865-1,960 per share. Yesterday, Hyundai Motors India experienced a muted debut on the exchanges, opening at Rs 1,934, at a discount of Rs 26, or 1.3%, below the issue price of Rs 1,960. The dull debut resulted in <keyword id="23654838" type="General" weightage="20" keywordseo="listing-day-losses" source="keywords">listing day losses</keyword> worth 7.16% for investors. The stock slipped even further to close the day at Rs 1,819.6, about 6% below the issue price. The stock opened today at Rs 1,815.20 before inching up during the day. <keyword id="19972907" type="General" weightage="20" keywordseo="retail-investors" source="keywords">Retail investors</keyword> were largely unenthusiastic about this IPO, subscribing only 0.5x to the offer. The issue sailed over and managed to get a 2.37x subscription thanks to <keyword id="21713453" type="General" weightage="20" keywordseo="QIBs" source="keywords">QIBs</keyword> (qualified institutional buyers), who pitched in and oversubscribed around 700% to the issue. This was despite Hyundai's IPO being the first share sale in India by an automaker in over 2 decades. The last time an automobile giant rolled their wheels into Indian markets was in 2003, when Japanese carmaker Maruti Suzuki came with its IPO worth Rs 993.35 crore. <h2> Mega IPOs, dud returns</h2>While HMIL's IPO was the biggest initial share sale in the country ever, even surpassing LIC's initial share sale of Rs 21,000 crore, it continued the trend of mega-IPOs delivering subpar returns. Data suggests that only 3 out of India's biggest-ever IPOs managed to deliver positive listing day gains. Even LIC's listing had yielded listing-day losses of about 7.75% for investors. Only Coal India's issue worth Rs 15,199 crore, which opened for subscription in 2010, and Zomato's issue worth Rs 9,375 crore in 2021 have managed to duck this trend. While Coal India's debut delivered listing day gains worth 39.73%, Zomato yielded a staggering 65.59% debut gain for its investors. In the last decade, DLF's IPO worth Rs 9,187 crore, which came in 2007, resulted in listing day gains of about 8.58% for its investors.

Hyundai Motor India's shares jump 5% on second day, making up for dull debut

<ul><li><keyword id="19901323" type="General" weightage="20" keywordseo="Zomato" source="keywords" meta.keywordsubtype="org" meta.entityname="Zomato" meta.hostid="261" meta.entityid="Zomato">Zomato</keyword> and <keyword id="19896956" type="General" weightage="20" keywordseo="Swiggy" source="keywords" meta.keywordsubtype="org" meta.entityname="Swiggy" meta.hostid="261" meta.entityid="Swiggy">Swiggy</keyword> have increased the <keyword id="20299300" type="General" weightage="100" keywordseo="platform-fee" source="keywords">platform fee</keyword> charged to users by 20%.</li><li>With this increase, the platform fee has increased from ₹5 to ₹6.</li><li>The platform fee charged is different from GST, delivery charges and restaurant charges applied on the platforms.</li></ul> Your food deliveries will get costlier as Zomato and Swiggy have started increasing the platform fee by 20%. The <keyword id="19922227" type="General" weightage="20" keywordseo="food-delivery-platforms" source="keywords">food delivery platforms</keyword> will now charge users ₹6 per order. Food delivery platforms Zomato and Swiggy introduced platform fees in 2023, which began at ₹2 per order. This was then increased to ₹3 and then to ₹5 in April 2024. <h2>Platform fee increases threefold</h2>In yet another increase, the two food delivery platforms have increased the platform fee to ₹6. This means that the platform fee has increased threefold in a year. The platform fee is different from other charges levied on orders such as GST, delivery charges and restaurant charges. Customers are required to pay this charge irrespective of any membership such as<a href="https://www.businessinsider.in/business/news/swiggy-cracks-down-on-password-sharing-allows-users-to-use-same-account-on-only-two-devices/articleshow/97548345.cms"> Swiggy One</a> or<a href="https://www.businessinsider.in/tech/apps/news/zomato-gold-re-launched-with-free-deliveries-vip-access-up-to-40-discount-on-dining-and-more/articleshow/97273088.cms"> Zomato Gold</a>. The increased platform fee is currently being tested in selected cities such as Delhi and Bengaluru. It is expected to be rolled out in a phased manner across all major cities. While an increase of ₹1 may seem insignificant to most people who place orders online, it adds up to a good source of revenue for Swiggy and Zomato which process lakhs of orders every day. Platforms such as Zomato and Swiggy aim to earn ₹1.25 to ₹1.5 crore per day through platform fees. <h2>Customers not happy</h2>Customers have not reacted positively to this news. Posts on platforms like X have criticised this move, calling for users to directly order from restaurants. <div type="twitter" handle="trippyankit" handlename="trippyankit" favoritecount="0" retweetcount="0" id="1812756936669921328"></div> The user highlighted that food prices are already comparatively higher on food delivery platforms. The difference in price is due to the commission paid by restaurants to Swiggy and Zomato, which usually ranges between 20 to 30%. <h2> Zomato share price surges</h2>Zomato’s share price increased by 3% to close at ₹229.10 on Monday after the company increased the platform fee. The company’s share price has increased by over 70% in the last six months, helping the company’s chief executive officer (CEO)<a href="https://www.businessinsider.in/stock-market/news/zomatos-deepinder-goyal-joins-elite-list-of-indian-billionaires/articleshow/111747793.cms"> Deepinder Goyal</a> become a billionaire. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/webstories/iqoo-z9-lite-5g-with-90hz-display-5000mah-battery-launched-starting-at-10499/slidelist/111754545.cms">iQOO Z9 Lite 5G with 90Hz display, 5000mAh battery launched starting at ₹10,499</a> <a href="https://www.businessinsider.in/tech/mobile/news/global-smartphone-shipments-grow-6-5-in-q2-2024-xiaomi-records-highest-growth/articleshow/111749023.cms">Global smartphone shipments grow 6.5% in Q2 2024, Xiaomi records highest growth</a> <a href="https://www.businessinsider.in/stock-market/news/ipos-this-week-four-ipos-to-hit-the-street-this-week/articleshow/111745283.cms">IPOs this week – four IPOs to hit the street this week</a>

Zomato and Swiggy increase platform fee by 20% – food deliveries to get costlier

Online food delivery firm <keyword id="19901323" type="General" weightage="20" keywordseo="Zomato" source="keywords">Zomato</keyword> Ltd on Monday reported a consolidated net profit of Rs 175 crore in the March quarter on the back of higher revenue. The company had posted a consolidated net loss of Rs 188 crore in the same quarter last fiscal, Zomato Ltd said in a regulatory filing. Consolidated revenue from operations stood at Rs 3,562 crore. It was Rs 2,056 crore in the year-ago period, it added. Total expenses were at Rs 3,636 crore. The company posted its total expenses at Rs 2,431 crore in the corresponding period a year ago, it said. For the fiscal ended on March 31, 2024, the consolidated net profit was Rs 351 crore. The company had posted a consolidated net loss of Rs 971 crore in the previous fiscal ended on March 31, 2023, the filing said. In FY24, consolidated revenue from operations stood at Rs 12,114 crore. It was at Rs 7,079 crore. The results for the year ended March 31, 2024, are not comparable with the year ended March 31, 2023, due to the acquisition of Blink Commerce Pvt Ltd (formerly known as Grofers India Pvt Ltd) in June 2022, the filing said. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/aadhar-housing-finance-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/110071990.cms">Aadhar Housing Finance IPO allotment – How to check allotment, GMP, listing date and more</a> <a href="https://www.businessinsider.in/sports/webstories/ipl-decoded-highest-individual-scores-in-ipl-2024-so-far-from-stoinis-to-kohli/slidelist/110008351.cms">IPL Decoded: Highest individual scores in IPL 2024 so far, from Stoinis to Kohli</a> <a href="https://www.businessinsider.in/tech/mobile/news/indian-smartphone-market-up-8-5g-smartphones-account-for-over-70-of-shipments/articleshow/110002512.cms">Indian smartphone market up 8%, 5G smartphones account for over 70% of shipments</a>

You Searched For "Zomato IPO" and got 12 results

Swiggy's IPO set to open tomorrow. Should you subscribe?

Ira Alok Puranik

Do large IPOs guarantee large returns? Data suggests that 18 of India's biggest 30 IPOs did not generate solid returns

Ira Alok Puranik

Swiggy sets IPO price band between Rs 371-390/share; offer likely to open on November 6th. Here's all you need to know

BI India Bureau

Swiggy IPO likely between November 6-8, 2024. Here's all you need to know

Ira Alok Puranik

Swiggy IPO likely in November, looking to raise Rs 11,000 crore; Rahul Dravid, Karan Johar bite into pre-IPO pie

Ira Alok Puranik

Ahead of much awaited IPO, what is Swiggy upto? Launching XL Fleet, premium membership and kicking out Zomato CEO

Ira Alok Puranik

Swiggy IPO subscribed to 2.13 times on last day of the offer

Ira Alok Puranik

Waaree Energies IPO allotment – How to check allotment, IPO GMP, listing date and more

Sourabh Jain

Zomato's net profit jumps 389% YoY, board approves Rs 8,500 crore fund-raise proposal

BI India Bureau

Hyundai Motor India's shares jump 5% on second day, making up for dull debut

BI India Bureau

Zomato and Swiggy increase platform fee by 20% – food deliveries to get costlier

Sourabh Jain

Zomato posts Q4 consolidated net profit at ₹175 crore

PTI

Popular Keywords

Buying Guides