Swiggy IPO Listing Date Set for November 13, 2024

Swiggy’s IPO is set to list on November 13 on the stock exchanges. The IPO opened on November 6 and was subscribed 3.59 times, with the retail portion booked 1.14 times. The issue was mainly driven by Qualified Institutional Buyers (QIBs), who subscribed 6.02 times.

The IPO closed on November 8, with 750,000 shares reserved for employees, offered at a discount of ₹25 to the issue price.

Swiggy IPO Details

The Swiggy IPO is a book-built issue worth ₹11,327.43 crore. It consists of a fresh issue of 115,358,974 shares and an offer for sale of 175,087,863 shares, with a face value of ₹1 each. The price band for the shares is ₹371-390.

75% of the shares were reserved for Qualified Institutional Buyers (QIBs), 15% for Non-Institutional Investors (NIIs), and 10% for retail investors. Additionally, 750,000 shares were set aside for employees, offered at a ₹25 discount from the issue price.

Planned Use of IPO Funds

Swiggy plans to use the funds raised from its IPO for several key initiatives, including-

• Subsidiary Investment: A portion of the funds will support Scootsy, Swiggy’s subsidiary.
• Technology and Infrastructure: Swiggy will invest in improving its technology and strengthening its cloud infrastructure.
• Brand Promotion: Swiggy intends to boost its brand visibility through promotional activities over the next 4-5 years.

Lead Book-Runners

The lead book-runners for the issue were Kotak Mahindra Capital Company, Citigroup Global Markets India, Jefferies India, Avendus Capital, J.P. Morgan India, BofA Securities India, and ICICI Securities.

About Swiggy

Founded in 2014, Swiggy is a leading tech company offering a unified app for food delivery, groceries, household items, and additional services like restaurant reservations, event bookings, and product deliveries. The company has quickly grown into a pioneer in hyperlocal commerce with its innovative solutions.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.