In November, Swiggy raised around Rs 11,327 crore via IPO in the three-day sale ending November 8. It listed at Rs 420 a share on the BSE, up only 8% over the Rs 390 issue price.
Swiggy’s only listed peer Zomato went public on July 23, 2021 at a 51% premium over the issue price of Rs 79. Zomato’s Rs 9,375 crore-IPO was subscribed 38 times.
Here’s how the two companies stack up in terms of financials. Loss-making Swiggy has a long way to go but it may not be as difficult for Zomato which has now tasted profitability.
Financials
With Swiggy’s InstaMart being a significant revenue driver and Zomato’s Blinkit growing 20% QoQ in Sep FY25, the incumbent food-techs are expected to prioritise their QC ventures, as there is not much to differentiate in food delivery
Quick commerce
Both Swiggy and Zomato operate identical businesses, but valuations and financials differ. Investors are curious if this duopoly will open up opportunities for them or will it create space for arch rivals Zepto and Big Basket?
Read the full story that breaks down the financials, what analysts say, and more