Swiggy’s platform saw a significant increase in its average monthly transacting delivery partners, with 457,249 delivery partners active in the three-month period ending June 30, 2024, up from 350,280 during the same period in 2023. For the fiscal year 2024, this figure stood at 392,589, reflecting growth from previous years (322,819 in 2023 and 243,496 in 2022).

On average, delivery partners earned ₹58.27 per order in the three months ended June 2024, slightly up from ₹55.98 in the same period of 2023. Over the fiscal year 2024, the average earnings were ₹56.01 per order, down from ₹58.99 and ₹59.23 in the previous years.

Average annual deliveries per partner

The average number of orders processed per partner dropped to 463 in the three months ending June 2024 from 515 in 2023. For the full fiscal year 2024, each partner processed an average of 1,919 orders, a decline from 1,999 in 2023 and 2,036 in 2022.

Ahead of the IPO, the food delivery platform mobilised ₹5,085 crore from anchor investors by allotting 13.04 crore shares to 151 funds at ₹390.

The IPO targets ₹11,327.43 crore through a combination of fresh issue worth ₹4,499 crore and offer for sale of 17.51 crore shares worth ₹6,828.43 crore.

Investors selling in the OFS included Accel India IV (Mauritius) Ltd, Apoletto Asia Ltd, Alpha Wave Ventures, LP, Coatue PE Asia XI LLC, DST EuroAsia V B.V, Elevation Capital V Ltd, Inspired Elite Investments Ltd, MIH India Food Holdings B.V, Norwest Venture Partners VII-A Mauritius and Tencent Cloud Europe BV.

The Swiggy IPO had been subscribed 34 per cent or 0.34 times so far on the second day. The IPO opened on Wednesday but saw a muted response from investors with a 12 per cent subscription. The IPO closes on November 8.

(This article was generated using AI and was reviewed by a journalist)

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