# Swiggy IPO 2024: Shareholders Approve Increase in IPO Size URL: https://technosports.co.in/swiggy-ipo-2024-increase-in-ipo-size/ Published: 2024-10-05 Updated: 2024-10-05 Author: Raunak Saha Swiggy IPO 2024: India’s food-tech giant **[Swiggy](https://www.swiggy.com/)** is gearing up for a major debut in the public market, and it has just received shareholder approval to increase the size of its **Initial Public Offering (IPO)**. During an **Extraordinary General Meeting (EGM)** on October 3, Swiggy’s shareholders greenlighted a plan to boost the IPO’s size by Rs 1,250 crore, raising the total primary issue from Rs 3,750 crore to Rs 5,000 crore. However, the **Offer for Sale (OFS)** portion remains unchanged at Rs 6,664 crore. ## Swiggy IPO 2024: Shareholders Approve Increase in IPO Size — Amitabh Bachchan and Karan Johar Among Investors ![Swiggy IPO 2024](https://technosports.co.in/wp-content/uploads/2022/11/Swiggys-food-delivery-GMV-increases-by-40-in-2022-1-1024x576.jpg) *Swiggy IPO 2024* ### Swiggy IPO Size: Poised to Be One of India’s Largest IPOs Swiggy’s IPO is expected to be one of the largest **new-age tech IPOs** in India. The company aims to raise **Rs 10,414 crore ($1.25 billion)** through the offering, with a possible extension to **Rs 11,664 crore ($1.4 billion)** if additional funding is secured. This decision comes as Swiggy prepares to face increasing competition from key players like **Zomato**, **Blinkit** (owned by Zomato), **Flipkart Minutes**, and **Tata BigBasket**. ### Swiggy Financials: Strong Growth Amid Loss Reductions [Swiggy](https://technosports.co.in/tag/swiggy/) has shown solid revenue growth in preparation for its IPO. In **FY24**, Swiggy’s revenue surged by **36%**, rising from **Rs 8,265 crore** in FY23 to **Rs 11,247 crore**. Even more impressive is the company’s success in slashing its losses by **44%**, from **Rs 4,179 crore** in FY23 to **Rs 2,350 crore** in FY24, as a result of better cost management. However, in the first quarter of **FY25**, Swiggy reported an **8% increase in losses**, reaching **Rs 611 crore**, as the company continues to prioritize growth over profitability. ![Swiggy IPO 2024](https://technosports.co.in/wp-content/uploads/2021/04/swiggy-layoff-employees-covid-19-1024x536.jpg) *Swiggy IPO 2024* ### Swiggy Q1 FY25 Results: Expenses and Revenue During the **April-June quarter of FY25**, Swiggy’s expenses rose to **Rs 3,908 crore**, a **27% increase** compared to the same period last year. Despite the rise in expenses, the company also saw a **35% jump in revenue**, earning **Rs 3,222.2 crore** in Q1 FY25, compared to **Rs 2,389.8 crore** in the same quarter of FY24. ### High-Profile Investors: Bollywood and Sports Stars Back Swiggy Swiggy has attracted a star-studded lineup of investors ahead of its IPO. Celebrities like **Amitabh Bachchan**, **Karan Johar**, **Madhuri Dixit**, and cricket legends **Rahul Dravid** and **Zaheer Khan** have invested in Swiggy’s pre-IPO shares. Reports suggest that nearly **200,000 shares** have been purchased by well-known figures from the entertainment and sports industries, adding more buzz to the company’s highly anticipated IPO. ![Swiggy IPO 2024](https://technosports.co.in/wp-content/uploads/2020/07/Swiggy_TechnoSports.co_.in_-1.jpg) *Swiggy IPO 2024* ### Key FAQs on Swiggy IPO 2024: #### **1. What is the size of Swiggy’s IPO?** Swiggy’s IPO is set to raise **Rs 10,414 crore ($1.25 billion)**, with an option to increase to **Rs 11,664 crore ($1.4 billion)** if additional funding is secured. The primary issue size has been increased from Rs 3,750 crore to Rs 5,000 crore. #### **2. When will Swiggy’s IPO be launched?** The exact date of Swiggy’s IPO has not yet been announced, but it is expected to happen later this year. #### **3. Who are Swiggy’s high-profile investors?** Some of Swiggy’s celebrity investors include **Amitabh Bachchan**, **Karan Johar**, **Madhuri Dixit**, **Rahul Dravid**, and **Zaheer Khan**, among others. #### **4. Why has Swiggy increased its IPO size?** Swiggy has increased its IPO size by Rs 1,250 crore to **Rs 5,000 crore** to allow for greater capital if needed while keeping the **Offer for Sale (OFS)** portion the same at **Rs 6,664 crore**. #### **5. How has Swiggy performed financially in recent years?** Swiggy reported a **36% increase in revenue** in FY24, from Rs 8,265 crore to **Rs 11,247 crore**, and reduced its losses by **44%** during the same period. However, in Q1 FY25, the company’s losses increased by 8% as it prioritized growth. #### **6. What competition does Swiggy face?** Swiggy faces competition from **Zomato**, **Blinkit**, **Flipkart Minutes**, and **Tata BigBasket**, among others. ### Conclusion: With its IPO expected to be one of the biggest in India, **[Swiggy](https://technosports.co.in/tag/swiggy/)** is positioning itself for future growth in the highly competitive food-tech sector. Backed by strong revenue growth and a host of high-profile investors, the company’s move to increase its IPO size signals confidence in its ability to capture market share and deliver value to shareholders. Stay tuned for more updates on the exact IPO dates and other details!