Swiggy IPO: What The RHP Tells Us About Its June Quarter Performance Against Zomato
Swiggy remains meaningfully behind Zomato on all major financial metrics.
Swiggy's metrics for first quarter this fiscal are available for comparison with listed peer Zomato Ltd. after the quick commerce company released its final red herring prospects late on Monday.
Days before it hits the primary markets on Nov. 6, Swiggy's listing has been much anticipated, and Indian investors will have a direct competitor available to Zomato.
Here's a few key details:
Swiggy remains meaningfully behind Zomato on all major financial metrics. While Zomato has moved into a positive trajectory after several quarters of being a loss-making listed company, Swiggy will also seek to replicate its rival's journey into retail investor acceptance.
As a result, Zomato's market cap is roughly 2.6 times Swiggy's market cap, at the upper end of its reported price band of Rs 390 apiece.
Moreover, food delivery continued to be a key driver for Swiggy, but quick-commerce arm Instamart is quickly gaining traction, being a notable name in the space of Zepto and Blinkit.
Other Metrics
Swiggy's delivery partners have increased consistently, pointing to a wider range of restaurants being onboarded to the platform, thereby expanding geographically as well.
The total number of food delivery orders as well as monthly transactions has gone up steadily, pointing to better competition unfolding between Zomato and Swiggy in the coming quarters.
