Swiggy’s November 2024 IPO raised ₹113.27 billion in total, including both new shares and shares sold by existing investors. A November 2024 report attributed the “largest technology IPO globally” ranking to a JPMorgan client note, but Swiggy’s FY2024–25 annual report later called it the second-largest. The available sources do not reconcile those rankings, so the superlative should be treated as an attributed claim, not a settled global league-table result.
How much was Swiggy’s IPO?
Swiggy’s final prospectus set the offer price at ₹390 per share and the total offer at ₹113,274.27 million, or ₹113.27 billion. In its FY2024–25 annual report, Swiggy reported the transaction as US$1.34 billion. That dollar total is the company’s reported figure; contemporary media accounts rounded the offer to approximately US$1.35 billion or US$1.4 billion.
| Component | Amount in prospectus | Swiggy’s reported dollar amount | What it means |
|---|---|---|---|
| Fresh issue | ₹44,990.00 million (₹44.99 billion) | US$533 million | New shares issued by Swiggy; proceeds went to the company. |
| Offer for sale | ₹68,284.27 million (₹68.28 billion) | US$809 million | Existing shareholders sold shares; proceeds went to those selling shareholders. |
| Total offer | ₹113,274.27 million (₹113.27 billion) | US$1.34 billion | The combined value of the fresh issue and offer for sale. |
The rupee amounts are from Swiggy’s November 8, 2024 prospectus; the US-dollar figures are from its FY2024–25 annual report, published in 2025. The distinction matters when asking how much Swiggy itself raised: the ₹44.99 billion fresh issue is the company’s new capital, while the larger offer-for-sale portion was a sale by existing shareholders. Swiggy’s prospectus and FY2024–25 annual report set out the amounts.
When did Swiggy’s IPO take place?
Anchor investor bidding took place on November 5, 2024, followed by the public bid period from November 6 through November 8. The Securities and Exchange Board of India’s filing record dates the prospectus November 11. Swiggy listed on the National Stock Exchange of India and BSE on November 13, 2024.
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Prosus, an investor in Swiggy, said the listing valued the company at US$11.3 billion. That is the valuation stated at listing, not a current market value. SEBI’s filing record and Prosus’s listing announcement document the filing and listing details.
Was it really the largest tech IPO globally in 2024?
The sources give two different rankings. On November 12, 2024, TechCrunch reported that a JPMorgan client note it had reviewed described Swiggy’s IPO as the largest technology IPO globally that year. Swiggy’s own FY2024–25 annual report, published in 2025, instead described it as “the second-largest technology IPO globally in 2024.” The annual-report wording is the company’s retrospective classification, not a ranking issued by an independent comparison body.
Neither source supplies a common methodology or peer table that resolves the discrepancy. A global ranking can depend on how a technology company is defined, which dates count toward the year, whether the measure is the total offer or only newly raised capital, how currencies are converted, and which markets are included. Swiggy’s offer itself illustrates why the metric matters: about 60% of its ₹113.27 billion total was an offer for sale by existing shareholders, rather than new capital for the company.
Accordingly, “largest tech IPO globally” is best read as an attributed contemporaneous claim. The evidence available here does not establish a definitive worldwide ranking under one consistent comparison method. TechCrunch’s November 2024 report and Swiggy’s later annual report show the difference.
How did the shares trade on debut?
TechCrunch reported that Swiggy shares closed at ₹455.95 on their November 13 debut, up 10.67% from the ₹390 offer price. This is a historical closing price reported at the time, not a current share price or an assessment of the stock’s subsequent performance.
For personal-finance readers, the offer size, the amount Swiggy received, and the first-day share move answer different questions. The total offer measures shares sold in the IPO; the fresh issue measures new capital for Swiggy; and the debut-day gain describes one session of market trading. None alone establishes whether the shares were or are a suitable investment.
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