Swiggy IPO: GMP, date, price, other details in 10 points about upcoming IPO

Swiggy IPO: The initial public offering (IPO) of online food ordering and delivery player Swiggy is set to hit the Indian primary market on Wednesday, November 6. The ₹11,327 crore book-built issue will remain open till Friday, November 8.

Meanwhile, according to reports, several prominent investors, including Norway’s sovereign wealth fund Norges and Fidelity, placed bids worth more than $15 billion in the IPO, 25 times the $605 million portion reserved for such investors.

Swiggy IPO key details

1. Swiggy IPO GMP: According to market sources, the current grey market premium (GMP) for the Swiggy IPO is ₹22. Considering the current GMP trend, the company’s shares are expected to be listed at a premium of 5.6 per cent at ₹412 on the Indian bourses.

2. Swiggy IPO price band: The issue’s price band has been set at ₹371 to ₹390 per share.

3. Swiggy IPO date: The mainboard IPO is opening for subscription on Wednesday, November 6, and will conclude on Friday, November 8.

4. Swiggy IPO size: The issue combines a fresh issue of 11.54 crore shares and an offer for sale (OFS) of 17.51 crore shares. From the sale of fresh issue of shares, the company will raise ₹4,499 crore.

5. Swiggy IPO lot size: The minimum lot size for an application is 38 Shares. With the issue’s upper price band at ₹390, the minimum amount of investment required by retail investors is ₹14,820.

6. Swiggy IPO allotment date: After the subscription period is over, the company is expected to finalise the share allotment on Monday, November 11. Successful bidders will likely get the shares credited to their demat accounts on Tuesday, November 12, while those who do not receive an allotment may expect refunds to be processed on the same day.

7. Swiggy IPO registrar: Link Intime India Private Ltd is the official registrar of the issue.

8. Swiggy IPO listing: The shares of the company may be listed on the BSE and the NSE on Wednesday, November 13.

9. Object of the issue: According to the company’s RHP, the company intends to use the net proceeds for investing in its material subsidiary, Scootsy, manage debt, expand its dark store network for the quick commerce segment, and cover lease or license payments associated with those dark stores.

Additionally, it aims to invest in technology and cloud infrastructure. The firm also mentioned that it will use the funds for brand marketing and promotional business expenses. Furthermore, it plans to allocate funds to support inorganic growth through unspecified acquisitions and for general corporate purposes.

10. Business overview: Swiggy is an online food ordering and delivery player. It also lets customers make restaurant reservations (Dineout) and book events (SteppinOut). The company’s revenue climbed by 34 per cent between March 2023 and March 2024. Meanwhile, its loss narrowed from ₹4,179.31 crore to ₹2,350.24 crore in the same period.

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