The highly anticipated Swiggy IPO opens for bidding on November 6 and aims to raise ₹11,327.43 crore through a combination of fresh share sales and an offer for sale (OFS). The IPO closes on November 8, with a price band set between ₹371 and ₹390 per equity share. Share allotment is expected to be finalized on November 11.
Key highlights of the Swiggy IPO include a reservation of 7.5 lakh shares for employees, offered at a discount of ₹25 from the issue price. Kotak Mahindra Capital, Citigroup Global Markets India, Jefferies India, Avendus Capital, J.P. Morgan India, BoFA Securities India, and ICICI Securities are acting as the lead managers for this book-built issue IPO.
Swiggy IPO Live Updates: Grey Market Premium (GMP)
Swiggy’s shares are currently trading at a grey market premium (GMP) of ₹19 above the issue price, suggesting a potential listing gain of around 4.87%.
Price Band and Lot Size
The IPO price band is between ₹371 and ₹390 per share, with a lot size of 38 shares. Retail investors can apply for a minimum of one lot, comprising 38 shares, or in multiples of 38 shares within this price range.
Swiggy secures ₹5,085 crore from anchor investors at ₹390 per share ahead of IPO
IPO Schedule
- Opening Date: November 6, 2024
- Closing Date: November 8, 2024
- Allotment Finalization: November 11, 2024
Book-Built Issue Details
Swiggy’s IPO comprises a fresh issue of 11.54 crore shares, amounting to ₹4,499 crore, and an OFS of 17.51 crore shares, totaling ₹6,828.43 crore.
Company Financials
Swiggy reported a 34% increase in revenue and a 44% rise in profit after tax (PAT) from the financial year ending March 2023 to March 2024, showcasing its growth trajectory ahead of the public listing.
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