New Delhi, 6 November (HS). The Rs 11,327.43 crore IPO of online food delivery company Swiggy opened for subscription today. Bidding can be done in this IPO till November 8. Before opening for subscription, Swiggy's anchor book was opened yesterday on 5th November, in which the company has raised an amount of more than Rs 5,085.02 crore from 151 anchor investors.
Swiggy's IPO is the second biggest IPO of this year. Earlier, Hyundai Motor had created a record of launching the largest IPO in the history of the domestic stock market by launching an IPO of Rs 27,870 crore. With the launch of Swiggy's IPO, its deals have also started in the gray market. Today, IPO is being bid in the gray market at the upper price band of Rs 390 with a premium of Rs 12 i.e. 3.08 percent.
Earlier yesterday, Swiggy's anchor book was opened, through which the company has collected Rs 50,85,02,32,290 from 151 anchor investors. A total of 13,03,85,211 shares have been issued to anchor investors at a price of Rs 390 each. Of the shares issued to anchor investors, 40.65 per cent of the shares have been issued to 69 schemes of 19 domestic mutual funds.
After opening for subscription today, investors can apply for this IPO till November 8. The price band of Rs 371 to 390 has been fixed for this IPO of Rs 11,327.43 crore, while the lot size is 38 shares. In this IPO, 75 percent share has been reserved for Qualified Institutional Buyers (QIBs), while 15 percent share is reserved for Non-Institutional Investors (NIIs) and 10 percent share is reserved for retail investors. In this IPO, the company is offering a discount of Rs 25 per share to its employees. The company's shares will be allotted to investors on November 11, while the company's shares will be listed on BSE and NSE on November 13.
New shares worth Rs 4,499 crore are being issued under the IPO, while 17,50,87,863 shares with face value of Rs 10 will be sold under the offer for sale window. According to the information provided by the company, the company will use the money raised from the sale of new shares to reduce the debt of its subsidiary Scootsi, expand its dark store network, brand marketing and business promotion and for general corporate purposes. Whereas the money raised through Offer for Sale will go to the old shareholders who sold the shares.
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