Food-delivery giant Swiggy has released its red herring prospectus for its anticipated IPO.

What Happened: The much-awaited IPO of the firm, which is seen competing with Zomato in the public markets, is set to open on November 6 and close on November 8, the document shows. The anchor book will open on November 5.

The RHP indicated that the IPO consists of a fresh issue of ₹4,499 crore and an offer for sale of 17.5 crore shares by existing shareholders. The selling shareholders in the offer-for-sale include Accel India, Apoletto Asia, Elevation Capital, Inspired Elite Investments, MIH India Food Holdings and Tencent Cloud Europe.

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Pricing: The upper price band of the issue is likely to be around ₹390, according to a report by Bloomberg. The company may aim to raise $1.35 billion (₹11,350 crore), the report said. The company is expected to start trading in the public markets from November 13, it added.

The RHP document also gave an insight into the firm’s Q1 financials. The company’s consolidated revenue from operation stood at ₹13,222 crore. Its loss jumped 8.3% year-on-year to ₹6,111 crore.

The book-running lead managers for the Swiggy IPO are Kotak Mahindra Capital, Citigroup Global Markets India, Jefferies India, Avendus Capital, JPMorgan India, Bofa Securities India and ICICI Securities. Link Intime India will serve as the registrar for the issue.

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