Swiggy’s IPO will open for subscription on Wednesday, November 6, and close on Friday, November 8. Allocation for anchor investors will be confirmed on Tuesday, November 5. The IPO’s price band is set between ₹371 and ₹390 per share, with each share having a face value of ₹1.
What Swiggy Offers
Swiggy provides a user-friendly app where customers can order food, groceries, and household items, which are delivered to their doorsteps by Swiggy’s on-demand delivery partners.
Swiggy IPO Grey Market Premium (GMP) Today
Swiggy’s IPO GMP (grey market premium) today is around ₹25, indicating a slight premium over the IPO price range. With a maximum price of ₹390, the estimated listing price could be ₹415, which is about 6.4% higher than the highest price in the IPO range. Over the past eight sessions, Swiggy’s GMP has shown positive signs, with the premium increasing recently.
Swiggy’s IPO Structure
Swiggy’s IPO will offer fresh shares worth ₹4,499 crore along with an offer-for-sale (OFS) of 175,087,863 equity shares from existing shareholders. The shareholders selling in this IPO include investors like Accel India IV, Apoletto Asia, Alpha Wave Ventures, DST EuroAsia, and Tencent Cloud Europe.
Use of Funds
Swiggy plans to use funds to invest in its subsidiary Scootsy, pay off debt, expand its “dark stores” for quick commerce, cover leasing fees, and invest in technology and cloud systems. The company also plans to spend on marketing and brand promotion, future acquisitions, and general corporate needs.
Key Players in Swiggy’s IPO
The lead managers of the Swiggy IPO include Kotak Mahindra Capital, Citigroup Global Markets India, Jefferies India, Avendus Capital, J.P. Morgan India, BofA Securities India, and ICICI Securities. Link Intime India is the registrar for this IPO.
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