Food delivery giant Swiggy‘s IPO is set to close today. The IPO is expected to be finalised on November 11, with the listing on BSE and NSE likely scheduled for November 13.
Swiggy IPO Subscription Status
As of the third day of bidding, the Swiggy IPO has been subscribed 2.38 times. The retail investor category has been subscribed 1.01 times, while the non-institutional investors category has seen a subscription of 0.26 times. The qualified institutional buyers (QIBs) category has been subscribed 3.90 times.
The IPO price band is set at ₹371 to ₹390 per share, with a minimum lot size of 38 shares. This translates to a minimum investment of ₹14,820 for retail investors.
Swiggy IPO GMP
The Swiggy IPO’s grey market premium (GMP) has slipped to ₹1 as of Friday. Combined with the upper price band of ₹390, this indicates a listing price of ₹391 — a premium of around 0.26%.
However, it's important to note that while GMPs can provide some insight into market sentiment towards an IPO, they are not always a reliable predictor of the stock's performance upon listing.
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Swiggy IPO Details
The issue which opened on November 6 is valued at ₹11,327.43 crores. It comprises a fresh issue of 11.54 crore shares amounting to ₹4,499.00 crores and an offer for sale of 17.51 crore shares aggregating to ₹6,828.43 crores.
The company plans to utilise the net proceeds from the offering for several purposes, including repayment or prepayment of existing borrowings related to its subsidiary Scootsy Logistics; expansion of its dark store network for its quick commerce segment and making lease or license payments for dark stores. It also aims to invest in technology and cloud infrastructure as well as brand marketing and business promotion.
The book-running lead managers for the Swiggy IPO are Kotak Mahindra Capital Company, Citigroup Global Markets India, Jefferies India, Avendus Capital, J.P. Morgan India, BofA Securities and ICICI Securities.
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