Mumbai: Swiggy IPO is set to open for subscription on November 6, 2024 and end on 8th November 2024. Swiggy IPO price band is set in the range of Rs 371 to Rs 390 per equity share. The anchor investors will be able to bid for the public offer on November 5 (Tuesday).
The retail investors are required to apply for a minimum lot size of 38 shares, for which one has to make a minimum investment of Rs 14,820. NII investors are mandated to bid for 14 lots, amounting to Rs 207,480, while the bNII category investors are required to apply for 68 lots for which they have to invest Rs 1,007,760. Swiggy IPO GMP today morning stood at Rs 20. With the price band of Rs 390, Swiggy shares are expected to be listed at Rs 410 which means listing gains of just over 5 percent, investorgain reported.
Swiggy IPO allotment, listing
- Swiggy IPO allotment expected date: November 11, 2024
- Initiation of Refunds process likely to begin on November 12
- The shares are expected to be credited to the demat account of successful applicants: November 12
- Swiggy shares will list on BSE and NSE with a tentative date, November 13.
Swiggy planned to launch its IPO to expand its business in smaller cities and increase its delivery capacity. The online food delhivery platform also has plans to for Debt Repayment as it has raised debt and venture capital funding to support its growth. It plans to reduce its debt burden and improve financial stability with funds collected from the public offer. Swiggy also has plans to jump into grocery delivery and cloud kitchens.
Swiggy IPO book running lead managers: Bofa Securities India Limited, ICICI Securities Limited, Avendus Capital Pvt Ltd, Citigroup Global Markets India Private Limited, Jefferies India Private Limited, Kotak Mahindra Capital Company Limited, and JP Morgan India Private Limited. Link Intime India Private Ltd is the registrar for the issue.
Swiggy’s DRHP With SEBI
“This being the first public issue of Equity Shares of our Company, there has been no formal market for the Equity Shares. The face value of the Equity Shares is Rs 1 each. The Floor Price and Cap Price as determined by our Company, in consultation with the Book Running Lead Managers, and the Offer Price determined by our Company, in consultation with the Book Running Lead Managers, in accordance with the SEBI ICDR Regulations, and on the basis of the assessment of market demand for the Equity Shares by way of the Book Building Process. No assurance can be given regarding an active or sustained trading in the Equity S hares nor regarding the price at which the Equity Shares will be traded after listing,” Swiggy said in its DRHP papers.
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