Swiggy IPO: The much-anticipated initial public offering (IPO) of Swiggy Limited, India's leading online food delivery company, opened on November 6, 2024. The public offering will remain open for subscription until November 8, 2024, giving investors three days to place their bids.
Price Range and Size of the IPO
Swiggy has set the price range for its IPO between Rs. 371 to Rs. 390 per share. The company is looking to raise a total of Rs. 11,327.43 crore through this offering. The funds will come from a combination of fresh shares and an Offer For Sale (OFS) by existing shareholders.Subscription Details on Day 1
As of 2:21 PM on Day 1 of bidding (November 6), the IPO had received 0.09 times total subscription. The retail portion was 0.44 times subscribed, while the Non-Institutional Investor (NII) portion had received 0.04 times subscription.Swiggy IPO Grey Market Premium
Before the official subscription started, Swiggy shares were already trading in the grey market at a premium of Rs. 11. This indicates that investors are showing positive interest in the company’s listing.IPO Lot Size and Investment Options
Investors can apply in lots. Each lot consists of 38 shares of Swiggy. This means that if you want to participate in the IPO, you’ll need to buy a minimum of 38 shares, priced between Rs. 371 to Rs. 390 per share, depending on the final offer price.Key Dates for Swiggy IPO
- IPO Opening Date: November 6, 2024
- IPO Closing Date: November 8, 2024
- Share Allotment Date: Likely November 9, 2024
- Listing Date: The company plans to list on BSE (Bombay Stock Exchange) and NSE (National Stock Exchange) on November 13, 2024.
Official Registrar and Lead Managers
- Registrar: Link Intime India Private Limited will manage the IPO’s registration process.
- Lead Managers: A group of prominent financial institutions, including Kotak Mahindra Capital, Citigroup Global Markets India, Jefferies India, Avendus Capital, JP Morgan India, BofA Securities, and ICICI Securities, have been appointed to oversee the IPO.