swiggy ipo : Online food delivery company Swiggy has decided the price band of its IPO. The company has set a price band of Rs 371-390 per share for the IPO opening on November 6, 2024. Swiggy’s IPO will open on November 6 and investors can place bets on it till November 8. Swiggy’s GMP is running at Rs 18. Importantly, gray market premiums have declined in the last two days.
Price band Rs 371-390 per share!
According to Bloomberg report, Swiggy will raise Rs 11,700 crore from the IPO at an issue price of Rs 390. Prosus and SoftBank-backed Swiggy’s IPO will be open from November 6-8. The IPO will open for anchor investors on November 5. The size of Swiggy’s IPO is Rs 11700 crore, in which new shares worth Rs 4500 will be issued, apart from this, shares worth Rs 6800 crore will be sold under Offer for Sale.
target
According to the issue price, the company is targeting a valuation of $11.3 billion. The company was earlier targeting a valuation of $15 billion. But due to the disappointing listing of Hyundai Motor India’s mega-IPO and the ongoing turmoil in the stock market, Swiggy has reduced the valuation of its IPO. Hyundai Motor India Rs. This will be the second largest IPO in the Indian stock market in the year 2024 after the IPO of Rs 27856 crore. Swiggy may be listed on the stock exchange on 13 November 2024. In September 2024, stock market regulator SEBI had given permission to Swiggy to launch an IPO.
From cricketers to film personalities invested
Ahead of Swiggy’s IPO launch, several cricketers to film personalities, from Amitabh Bachchan to former Team India coach Rahul Dravid, have bought shares in Swiggy. Apart from this, before the IPO, Madhuri Dixit and Karan Johar had also bought shares of Swiggy. Motilal Oswal Financial Services Chairman Ramdev Aggarwal has also bought stake in Swiggy.
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