On November 6, the eagerly anticipated Swiggy IPO went up for bid. By combining the sale of new shares with an offer for sale, the business will raise Rs 11,327.43 crore. On November 8, the IPO will close. On November 6th (Day 1), 12% of the IPO was subscribed for. The problem was booked 0.56 times by retail buyers. The pricing range for each equity share in the IPO was maintained at Rs 371 to Rs 390. On November 11, the Swiggy IPO’s share allocation is probably going to be finalized.
For staff, the company has set aside 750,000 shares, which are being given at a 25 rupee discount from the issuance price. J.P. Morgan India, BoFA Securities India, ICICI Securities, Jefferies India, Avendus Capital, Citigroup Global Markets India, and Kotak Mahindra Capital Company are the IPO’s book-running lead managers.
Swiggy IPO Details
| IPO Open Date | November 6, 2024 |
| IPO Close Date | November 8, 2024 |
| Listing Date | Wednesday, November 13, 2024 |
| Face Value | ₹1 per share |
| Price Band | ₹371 to ₹390 per share |
| Lot Size | 38 Shares |
| Total Issue Size | 290,446,837 shares
(aggregating up to ₹11,327.43 Cr) |
| Fresh Issue | 115,358,974 shares (aggregating up to ₹4,499.00 Cr) |
| Offer for Sale | 175,087,863 shares of ₹1
(aggregating up to ₹6,828.43 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
Swiggy IPO GMP Today
Market watchers claim that unlisted Swiggy Ltd. shares are currently trading on the gray market for just Rs 19 more than the company’s issue price. With a grey market premium of Rs 19 (GMP), the grey market anticipates a 4.87 percent listing gain from the public offering. The GMP is always evolving and is based on market sentiment. An indication of investors’ willingness to pay more than the issue price is the “grey market premium.”
About the Company – Swiggy
Swiggy, which was founded in 2014, is currently among the leading food and grocery delivery services in India. With an emphasis on speedy commerce with Instamart, Swiggy intends to go even further as it prepares for its IPO. Swiggy’s size and robust market presence offer it an advantage over rivals Zepto and Blinkit, which is backed by Zomato. Its expansion and improved market position will be financed in part by the IPO.
With a significant emphasis on Tier 2+ regions, the company reaches 97% of India’s population by covering over 27,000 PIN codes. Swiggy has grown with India’s e-commerce industry, handling over 2 billion shipments since 2013 and growing at an annual rate of 33.46% between FY2020 and FY2024. Swiggy uses a network of 3,421 delivery centers and 317 leased buildings to run its asset-light, technology-driven business strategy.
