Swiggy’s IPO is a book-built issue totaling Rs 11,327.43 crores, featuring a combination of a fresh issue of 11.54 crore shares valued at Rs 4,499.00 crores and an offer for sale of 17.51 crore shares aggregating to Rs 6,828.43 crores.
The Swiggy IPO will open for subscription on November 6, 2024, and close on November 8, 2024. The allotment of shares is expected to be finalized by Monday, November 11, 2024, with the IPO listing planned on both BSE and NSE, and a tentative listing date set for Wednesday, November 13, 2024.
Swiggy operates in the food delivery sector. Founded in 2014, it is one of India’s largest and most popular online food ordering and delivery platforms. Swiggy partners with a wide range of restaurants to provide diverse food options to customers through its app and website. Additionally, Swiggy has expanded its services to include quick commerce (Swiggy Instamart) and same-day package deliveries (Swiggy Genie).
The IPO’s price band is set between ₹371 and ₹390 per share, with a minimum application lot size of 38 shares. Retail investors will need a minimum investment of ₹14,820. For sNII, the minimum lot size is 14 lots (532 shares) totaling ₹207,480, while for bNII, the requirement is 68 lots (2,584 shares), amounting to ₹1,007,760.
The issue also includes a reserved allotment of up to 750,000 shares for employees, with a discount of Rs 25 per share from the issue price.
The book-running lead managers for the Swiggy IPO are Kotak Mahindra Capital Company Limited, Citigroup Global Markets India Private Limited, Jefferies India Private Limited, Avendus Capital Pvt Ltd, J.P. Morgan India Private Limited, Bofa Securities India Limited, and ICICI Securities Limited, with Link Intime India Private Ltd acting as the registrar.
Swiggy IPO Details:
| Company Name | Swiggy Limited |
| Sector | Food Delivery |
| IPO Type | Mainboard |
| IPO Open date | 06th Nov 2024 |
| IPO Close date | 08th Nov 2024 |
| OFS | |
| Listing Exchanges | NSE, BSE |
| Share Holding Pre-issue | |
| DRHP Draft Prospectus | Click to check |
| RHP Draft Prospects | Click to check |
Swiggy IPO Lot Size:
| Application | Lot Size | Shares | Amount |
| Retail (Min) | 1 | 38 | 14,820 |
| sHNI (Min) | 14 | 532 | 2,07,480 |
| bHNI (Min) | 68 | 2584 | 10,07,760 |
Swiggy IPO Timeline:
| IPO Open Date | 06th Nov 2024 |
| IPO Close Date | 08th Nov 2024 |
| Basis of Allotment | 11th Nov 2024 |
| Refund Initiation Date | 12th Nov 2024 |
| Shares Credit to Demat | 12th Nov 2024 |
| Listing Date | 13th Nov 2024 |
Things to Consider before applying for an IPO
Financial Performance: Review Swiggy’s financials to understand its revenue, profitability, and growth prospects.
Industry Outlook: Consider the overall health of India’s Food Delivery Industry.
Valuation: Compare the price band to similar companies in the industry to see if the IPO is priced fairly.
Management Team: Research the experience and capabilities of the management team.
Our Verdict
This IPO offers a good opportunity to invest in Swiggy and be a part of its growth.
FAQ
What is Grey Market Premium (GMP)?
The Grey Market Premium (GMP) represents the price at which an Initial Public Offering (IPO) is traded in the unregulated grey market before its official listing. It serves as an indicator of how the IPO might perform on the listing day. Seeing the latest GMP, investors can estimate the listing performance of the IPO.
