Swiggy’s Highly-Anticipated IPO: Key Details You Need to Know Before November 6 Launch

Swiggy’s initial public offering (IPO) is set to go live on November 6, and here’s everything you should know:

1. GMP Insight: In the grey market, Swiggy shares are showing a premium (GMP) of ₹22. Based on this, shares are expected to list around ₹412, or 5.6% above the issue price.
2. IPO Price Band: The price range for Swiggy shares is between ₹371 and ₹390 per share.
3. IPO Dates: Swiggy’s IPO opens on November 6, 2024, and will close on November 8.
4. IPO Size: Swiggy aims to raise ₹11,327 crore, combining a fresh issue of ₹4,499 crore and an offer for sale (OFS) of existing shares.
5. Lot Size: Investors need to apply for a minimum of 38 shares per lot, amounting to an initial investment of ₹14,820 at the top price band.
6. Allotment Date: Allotment is expected to be finalized by November 11, with shares credited to successful bidders’ demat accounts by November 12. Refunds will also be processed on November 12 for unsuccessful bids.
7. Registrar: Link Intime India Private Ltd is overseeing Swiggy’s IPO as the official registrar.
8. Listing Date: Swiggy shares are likely to debut on the BSE and NSE on November 13.
9. IPO Fund Goals: Swiggy plans to use the raised funds to expand Scootsy, pay down debt, grow its network of “dark stores” for rapid delivery, and cover costs for technology infrastructure, marketing, and potential acquisitions.
10. Company Snapshot: Swiggy has grown in online food delivery, restaurant reservations (Dineout), and event bookings (SteppinOut). Revenue jumped 34% from March 2023 to March 2024, while losses decreased significantly from ₹4,179.31 crore to ₹2,350.24 crore.

This IPO is drawing significant attention as investors look to back Swiggy’s expanding presence in India’s online food and service industry.