Swiggy's IPO Details: Swiggy is coming with a bang IPO, preparing to raise Rs 11,327 crore, know when it will open…

Swiggy’s IPO Details: The initial public offer (IPO) of online food delivery platform Swiggy will open on November 5. Investors will be able to bid for this issue till November 8. The company's shares will be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on 13 November.

The company wants to raise Rs 11,327.43 crore through this issue. For this, the company is issuing 11,53,58,974 fresh shares worth Rs 4,499 crore. At the same time, the existing investors of the company are selling 17,50,87,863 shares worth Rs 6,828.43 crore through Offer for Sale i.e. OFS.

What is the minimum amount that can be invested?

Swiggy has fixed the price band of this issue at Rs 371 to Rs 390 per share. Retail investors can bid for a minimum of one lot i.e. 38 shares.

If you apply for 1 lot at the upper price band of IPO of Rs 390, then you will have to pay Rs 14,820 for it.

Swiggy's IPO Details: 10% of the issue reserved for retail investors

The company has reserved 7.5 lakh shares from the issue for its employees. Apart from this, 75% of the issue is reserved for Qualified Institutional Buyers (QIB). Apart from this, 10% share is reserved for retail investors and the remaining 15% share is reserved for non-institutional investors (NII).

Swiggy's revenue to increase by 36% in FY 2024

Swiggy's revenue increased by 36% to Rs 11,247 crore in FY 2024, from Rs 8,265 crore in the previous financial year. During this period, the company also reduced its losses by 44% and in the financial year 2024 it stood at Rs 2,350 crore, which was Rs 4,179 crore last year. The company has been successful in reducing losses by keeping its costs under control.