Swiggy’s initial public offering (IPO), which opened for subscription on November 6 and closed on November 8, witnessed a robust response, especially from Qualified Institutional Buyers (QIBs). The IPO, aiming to raise approximately Rs 11,300 crore, included a fresh issue of Rs 4,500 crore and an Offer for Sale (OFS) of Rs 6,800 crore, with the price band set at Rs 371-390 per share.
Final Subscription Figures:
- Qualified Institutional Buyers (QIBs): The QIB category saw overwhelming interest, with 52.31 crore shares bid against the offered 8.69 crore, resulting in a subscription of 6.02 times.
- Non-Institutional Investors (NIIs): This segment, which includes high-net-worth individuals, was subscribed 0.41 times, with bids for 1.78 crore shares against the reserved 4.34 crore shares.
- Retail Individual Investors (RIIs): The retail category was oversubscribed at 1.14 times, with 3.30 crore shares bid against the available 2.89 crore shares.
- Employee Reserved Category: Swiggy employees also showed a favorable response, with this segment subscribed 1.65 times, with bids for 12.36 lakh shares against the reserved 7.50 lakh shares.
- Overall Subscription: The IPO received a total of 57.52 crore bids for 16.01 crore shares, marking an overall subscription rate of 3.59 times.
Swiggy’s IPO marks a significant move in the food and grocery delivery sector, drawing strong institutional interest while retail and employee participation also remained steady. The allocation for each category will be finalized soon, with the company expected to list on stock exchanges shortly.
