Food and grocery delivery giant Swiggy Ltd raised ₹5,085.02 crore from anchor investors on November 5, pricing its allocation at the upper end of ₹390 per share in anticipation of its upcoming IPO. The anchor book saw strong participation from over 75 investors, both domestic and international, reflecting robust demand.
Domestic institutions, including top mutual funds like SBI MF, ICICI Prudential MF, and Kotak MF, accounted for 56% of the anchor allocation. Leading insurance firms, such as ICICI Prudential Life and HDFC Life, also backed the IPO.
On the global front, major investors like Capital, Fidelity, Blackrock, and sovereign funds like Norway’s Norges Bank and Canada’s BCI participated. The anchor list also included notable funds across EMEA, the US, and Asia, with multi-strategy funds like Millennium, Citadel, and Marshall Wace joining the round.
The IPO aims to raise ₹11,327 crore, with a fresh issue worth ₹4,499 crore and an offer for sale of up to ₹6,828 crore from existing shareholders. The price band is set between ₹371 and ₹390 per share, with Swiggy reserving 7.5 lakh shares for its employees.
Swiggy plans to invest ₹1,343.5 crore in its subsidiary Scootsy, ₹703 crore in technology infrastructure, and ₹1,115 crore for brand marketing, with the remainder allocated for acquisitions and corporate purposes. This IPO could place Swiggy among India’s largest public listings, alongside Hyundai Motor India’s recent record-breaking ₹27,856 crore IPO.
