Swiggy's IPO Details: When will Swiggy's IPO open, big update regarding the date, know the preparations to raise how many thousands of crores…

Swiggy’s IPO Details: The initial public offer (IPO) of online food delivery platform Swiggy can open on 6 November. Investors will be able to bid for this issue till November 8.

The company has fixed the price band of Rs 371 to Rs 390 per share for this. Bloomberg has given this information quoting sources.

Swiggy is planning to raise $ 1.35 billion (about Rs 11,700 crore) through this issue. According to reports, the company will issue new shares worth Rs 4,500 crore for this.

Whereas the remaining shares worth Rs 6,800 crore will be sold by existing investors through Offer for Sale (OFS).

On Sunday, the company fixed the new valuation for the IPO at $ 11.3 billion (Rs 95 thousand crore), which is about 25 percent less than the previous valuation.

Swiggy's IPO Details: BlackRock and CPPIB to invest Rs 11,774 crore

BlackRock and Canada Pension Plan Investment Board (CPPIB) will invest $ 1.4 billion (Rs 11,774 crore) in this IPO. This will be the second largest stock offering in the country this year.

Indian stocks have fallen for four consecutive weeks, which is the longest decline since August 2023. Due to continuous foreign selling, the Nifty-50 index is more than 8% below its record high of September 27.