Swiggy IPO Launch: Important Details and Investment Information

Swiggy’s IPO is set to launch on November 6, with a goal to raise ₹11,327 crore. The price range is between ₹371 and ₹390 per share, requiring a minimum investment of ₹14,820. Major investors like Norway’s sovereign wealth fund Norges and Fidelity have already placed bids exceeding $15 billion, far surpassing the $605 million allocated for such investors.

Key Details of the Swiggy IPO

1. Grey Market Premium (GMP)

The grey market premium (GMP) for the Swiggy IPO is currently ₹22, suggesting that shares could start trading at around ₹412, which is a 5.6% premium.

2. Price Band

The IPO price is set at ₹371-₹390 per share.

3. Subscription Dates

The IPO opens for subscription on November 6 and closes on November 8.

4. Issue Size

This IPO includes a fresh issue of 11.54 crore shares and an offer for sale (OFS) of 17.51 crore shares, raising ₹4,499 crore from the fresh issue.

5. Lot Size

Investors must apply for a minimum of 38 shares, which requires an investment of ₹14,820 at the upper price band.

6. Allotment Date

Share allotment is expected to be finalized on November 11, with shares credited to successful bidders’ accounts by November 12. Refunds for unsuccessful applicants will also be processed that day.

7. Registrar

Link Intime India Private Ltd is the official registrar for the IPO.

8. Listing Date

Shares are likely to be listed on the BSE and NSE on November 13.

9. Use of Proceeds

Swiggy plans to use the funds for:

• Investment in its subsidiary Scootsy
• Managing debt
• Expanding its dark store network for faster deliveries
• Technology and cloud infrastructure development
• Brand marketing and promotional expenses
• Supporting growth through acquisitions

10. Business Overview

Swiggy is a popular online food ordering and delivery service that also offers restaurant reservations (Dineout) and event bookings (SteppinOut). The company’s revenue grew by 34% from March 2023 to March 2024, and its losses decreased from ₹4,179.31 crore to ₹2,350.24 crore during the same period.

Conclusion

Investors should consider the Swiggy IPO and the potential for growth in the online food delivery market.

Disclaimer: The information provided is from various analysts and brokerage firms. Please consult certified professionals before making any investment decisions.