Mumbai: November 8, 2024, i.e., Friday is the last day to subscribe for Swiggy IPO. As per the NSE data, the food delivery and quick-commerce major Swiggy’s initial share sale received bids for 5,56,98,652 shares against 16,01,09,703 shares on offer on day two of the share sale on Thursday. The valuation of Swiggy has been pegged at about Rs 95,000 crore at the upper price band.
In the Retail Individual Investors (RIIs) category, Swiggy’s initial public offering (IPO) fetched a subscription of 84 per cent while 28 per cent subscription was recorded in the category for Qualified Institutional Buyers (QIBs). The non-institutional investors portion received 14 per cent subscription.
Swiggy IPO GMP, allotment, listing
Swiggy has collected Rs 5,085 crore from anchor investors. Swiggy IPO price band is fixed in the range of Rs 371-390. The Bengaluru-based company is aiming to garner Rs 11,327 crore from the IPO, which has a fresh issue of shares worth Rs 4,499 crore, along with an offer for sale (OFS) of Rs 6,828 crore.
Swiggy IPO GMP today morning stood at Rs 2, as per investorgain. With the price band of Rs 390, Swiggy shares are expected to be listed at Rs 392, which means a percentage gainof meagre 0.51 percent. Grey Market premium price are not official figures.
The Swiggy IPO allotment is expected to take place on November 11 and the shares will be credited to the accounts of eligible shareholders on 12th November. The Swiggy shares will list on BSE and NSE with a tentative date November 13, 2024.
Swiggy IPO Review
Should you subscribe for Swiggy IPO? Let’s see what brokerages have to say about Swiggy IPO:
- Canara Bank Securities Ltd has advised to apply for Swiggy IPO.
- Capital Market has maintained a neutral stance.
- Dilip Davda said investors may apply for Swiggy IPO
- DRChoksey FinServ Pvt Ltd has advised to subscribe Swiggy IPO.
- Apply Call by Indsec Securities, while SBICAP Securities Limited and Swastika Investmart Ltd has said that interested investors may apply for the IPO.
The company has informed that the money garnered from the initial public offer would be used for “investing in technology and cloud infrastructure; brand marketing and business promotion; and debt payment”. The online food delivery platform also plans to use the funds for inorganic growth and general corporate purposes.
(Disclaimer: This article is only meant to provide information. News9 does not recommend buying or selling shares or subscriptions of any IPO and Mutual Funds.)
Comments are closed.