Food delivery giant, Swiggy, has launched its much-anticipated initial public offering (IPO), valued at ₹11,327.43 crores. The IPO opened for subscription on November 6 and is set to close on November 8.

It is a combination of a fresh issue of 11.54 crore shares, aggregating to ₹4,499 crore, and an offer for sale of 17.51 crore shares, aggregating to ₹6,828.43 crore. The price band for the Swiggy IPO is set at ₹371 to ₹390 per share, with a minimum lot size of 38 shares.

Swiggy IPO Subscription Status

The Swiggy IPO has seen a mixed response from different investor categories. As per the data from stock exchanges, it has seen a subscription status of 0.06 times. As of the latest data, the retail individual investors (RIIs) category has subscribed 0.29 times, with 83,04,976 bids.

Non-institutional investors have shown a lukewarm response with a subscription of 0.02 times, with 9.96 lakh bids. The employee category, with a reservation of up to 750,000 shares, has seen a subscription of 0.42 times, with 3.18 lakh bids. However, the qualified institutional buyers (QIBs) category has not seen any subscriptions yet.

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Swiggy IPO GMP

The grey market premium (GMP) for the Swiggy IPO currently stands at ₹12. With the upper price band of ₹390, the estimated listing price for Swiggy IPO is ₹402, indicating a potential gain of 3.08% per share. However, it’s crucial to note that GMPs are merely indicative and should not be the sole factor in predicting the company’s performance upon listing.

Swiggy IPO Details

The allotment for the Swiggy IPO is expected to be finalized on Monday, November 11, 2024, with a tentative listing date fixed as Wednesday, November 13, on both BSE and NSE. Swiggy is one of India’s leading food delivery platforms, offering services in over 500 Indian cities.

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