The Board of Swiggy at its meeting held on 03 December 2024 has approved for incorporation of a new wholly owned subsidiary of the company. Powered by Capital Market - Live

The Board of Swiggy at its meeting held on 03 December 2024 has approved investment in the equity shares of Scootsy Logistics (wholly owned subsidiary of the company) (Scootsy) up to an amount not exceeding Rs 1,600 crore in one or more tranches by way of subscription to rights issue as detailed below: ' Upto Rs. 1350 crore as a part of the deployment of IPO proceeds towards Instamart and its expansion ' Upto Rs 250 crore towards working capital infusion.Powered by Capital Market - Live

Revenue from operations jumped 30.33% YoY to Rs 3601.45 crore during the quarter. The company reported loss before exception item of Rs 2.12 crore during the quarter as compared with Rs 0.2 crore in Q2 FY24. Total expenses jumped 22.9% to Rs 4,309.54 crore in Q2 FY25 as compared with 3,506.63 crore in Q2 FY24. Cost of material consumed stood at Rs 8.87 crore (down 49.63% YoY), advertising expenses was at Rs 537.11 crore (up 8.75% YoY), delivery and related charges was at Rs 1,094.85 crore (up 32.5% YoY) and finance cost stood at Rs 23.05 crore (up 48.9% YoY) during the period under review. During the quarter, revenue from food delivery segment jumped 22.29% YoY to Rs 22.29 crore, revenue from out-of-home consumption (Dine-out, SteppinOut) stood at Rs 59.04 crore registering the growth of 66.36% YoY. While revenue from supply chain distribution increased 22.04% YoY to Rs 1,452.55 crore in Q2 FY25, revenue from platform innovations which includes Swiggy- Gene, Swiggy-Minis, Insanely Goods etc, jumped 48.84% to Rs 25.29 crore during the quarter. The company's overall gross order value (GOV) grew 30% YoY to reach Rs 11,306 crore, while the consolidated adjusted EBITDA loss of Rs 341 crore represented a reduction in the loss by 30% YoY. Platform average monthly transacting users (MTU) grew 19.2% YoY to 17.1 million. Swiggy's Food delivery business witnessed a near doubling of its protability, with Adjusted EBITDA clocking Rs 112 crore at a 1.6% margin. GOV grew steadily by 5.6% QoQ to Rs 7191 crore. The company recently launched 'Bolt', a 10-minute restaurant food delivery service, which already accounts for 5% of the overall food deliveries within 8 weeks of launch. Swiggy Instamart, the company's quick commerce platform, witnessed a significantly improved performance where its GOV growth accelerated to 24 % QoQ to reach Rs 3,382 crore. The overall orders grew by 21 % QoQ, with orders per dark store per day rising 10% QoQ. Instamart added 12 cities and 52 stores during the quarter and improved its contribution margin by 124 bps QoQ to -1.9 %. Swiggy Instamart plans to double its dark store count by March 2025 (vs 523 on March 2024), while increasing the average size of stores by 30-35%. As a result, the active dark store area will grow to over 2.5 times YoY to reach 4 million square feet by March 2025. Sriharsha Majety, MD & Group CEO, Swiggy, said, 'The remarkable performance of our food business operations comes on the back of strong innovation and execution. We are constantly trying to anticipate and improve the consumer's experience. The recent launch of Bolt- our 10-minute delivery service is an example of that. Similarly in quick commerce, we are anticipating and responding to consumer behaviour to bring more and more convenience to urban households. Instamart today is present in 54 cities and delivers more than 32,000 unique items, within an average delivery time of 13 minutes.' Swiggy made its stock market debut on 13 November 2024 and listed at Rs 412, a premium of 5.64% to the issue price of Rs 390. The initial public offer (IPO) of Swiggy was subscribed 3.59 times. Swiggy is a new-age, consumer-first technology company offering users an easy-to-use convenience platform, accessible through a unified app - to browse, select, order and pay for food 'Food Delivery, grocery and household items 'Instamart', and have their orders delivered to their doorstep through its on-demand delivery partner network. Its platform can be used to make restaurant reservations 'Dineout' and for events bookings 'SteppinOut', avail product pick-up/ drop-off services 'Genie' and engage in other hyperlocal commerce (Swiggy Minis, among others) activities. Being among the first hyper local commerce platforms, Swiggy has successfully pioneered the industry in India, launching Food Delivery in 2014 and Quick Commerce in 2020. The counter rose 1.20% to Rs 501.30 on the BSE.Powered by Capital Market - Live

Swiggy will hold a meeting of the Board of Directors of the Company on 3 December 2024Powered by Capital Market - Live

The brokerage highlighted that Swiggy is well-positioned for growth, currently trading at a 35% discount to Zomato. It added that in the online food delivery (OFD) segment, Swiggy is narrowing the gap with Zomato in terms of margins and scale. Meanwhile, in the quick commerce (q-com) space, Swiggy has shown encouraging signs but still has areas for improvement. The brokerage remains optimistic about Swiggy's prospects, seeing significant growth potential in the evolving market. Swiggy made its stock market debut on 13 November 2024 and listed at Rs 412, a premium of 5.64% to the issue price of Rs 390. The initial public offer (IPO) of Swiggy was subscribed 3.59 times. The issue opened for bidding on 6 November 2024 and it closed on 8 November 2024. The price band of the IPO was fixed between Rs 371 to 390 per share. Swiggy is a new-age, consumer-first technology company offering users an easy-to-use convenience platform, accessible through a unified app - to browse, select, order and pay for food 'Food Delivery, grocery and household items 'Instamart', and have their orders delivered to their doorstep through its on-demand delivery partner network. Its platform can be used to make restaurant reservations 'Dineout'and for events bookings 'SteppinOut', avail product pick-up/ drop-off services 'Genie' and engage in other hyperlocal commerce (Swiggy Minis, among others) activities. Being among the first hyper local commerce platforms, Swiggy has successfully pioneered the industry in India, launching Food Delivery in 2014 and Quick Commerce in 2020. The firm reported a consolidated net loss of Rs 611 crore and sales of Rs 3,222.22 crore for the three months ended on 30 June 2024. Powered by Capital Market - Live

The scrip was listed at Rs 412, exhibiting a premium of 5.64% to the issue price. So far, the stock has hit a high of 419.95 and a low of 390.70. On the BSE, over 21.39 lakh shares of the company were traded in the counter so far. The initial public offer (IPO) of Swiggy was subscribed 3.59 times. The issue opened for bidding on 6 November 2024 and it closed on 8 November 2024. The price band of the IPO is fixed between Rs 371 to 390 per share. The IPO consisted of a fresh issue of Rs 4,499 crore and an offer-for-sale (OFS) of up to 17,50,87,863 shares by its existing shareholders. Out of the proceeds from the fresh issue, Rs 164.8 crore will be used for debt repayment of subsidiary Scootsy. Further Rs 1178.7 crore will be invested in Scootsy to expand the dark store network in the quick commerce segment, with Rs 755.4 crore allocated for setting up dark stores and Rs 423.30 crore for lease or license payments. The company will also invest Rs 703.4 crore in technology and cloud infrastructure, Rs 1115.30 crore for brand marketing and business promotion, and the balance funds will be allocated for inorganic growth and general corporate purposes. Ahead of the IPO, Swiggy on Tuesday, 5 November 2024, raised Rs 5,085.02 crore from anchor investors. The board allotted 13.03 crore shares at Rs 390 each to 151 anchor investors. Swiggy is a new-age, consumer-first technology company offering users an easy-to-use convenience platform, accessible through a unified app - to browse, select, order and pay for food 'Food Delivery, grocery and household items 'Instamart', and have their orders delivered to their doorstep through its on-demand delivery partner network. Its platform can be used to make restaurant reservations 'Dineout'and for events bookings 'SteppinOut', avail product pick-up/ drop-off services 'Genie' and engage in other hyperlocal commerce (Swiggy Minis, among others) activities. Being among the first hyper local commerce platforms, Swiggy has successfully pioneered the industry in India, launching Food Delivery in 2014 and Quick Commerce in 2020. The firm reported a consolidated net loss of Rs 611 crore and sales of Rs 3,222.22 crore for the three months ended on 30 June 2024. Powered by Capital Market - Live

The equity shares of Swiggy (Scrip Code: 544285) are listed effective 13 November 2024 and admitted to dealings on the Exchange in the list of ''B'' Group Securities. Powered by Capital Market - Live