Swiggy IPO: GMP, subscription status, review, other details. Should you apply?

Swiggy IPO: The initial public offering (IPO) of Swiggy Limited hit the Indian primary market on 6th November 2024. Bidding for the Swiggy IPO will remain open until 8th November 2024. This means Swiggy IPO subscription will remain open from Wednesday to Friday this week. The online food delivery company has fixed the Swiggy IPO price band at ₹371 to ₹390 apiece. The company aims to raise ₹11,327.43 crore from this initial offer, a mix of fresh shares and offer for sale (OFS). Meanwhile, company shares are available in the grey market ahead of the Swiggy IPO subscription opening date. According to stock market observers, Swiggy shares are trading at a premium of ₹11 in the grey market today.

Swiggy IPO details

1] Swiggy IPO GMP: According to stock market observers, the company’s shares are trading at a premium of ₹11 in the grey market today.

2] Swiggy IPO price: The online food delivery company’s public issue price range is fixed at ₹371 to ₹390.

3] Swiggy IPO date: Bidding for the public issue will remain open from November 6th to 8th, 2024.

4] Swiggy IPO size: The company aims to raise ₹11,327.43 from this initial offer, which will consist of a mix of fresh shares and OFS.

5] Swiggy IPO lot size: A bidder can apply in lots, and one lot of the book build issue compares 38 company shares.

6] Swiggy IPO allotment date: The most likely date for share allotment is Saturday, November 9th, 2024.

7] Swiggy IPO registrar: Link Intime India Private Limited has been appointed official registrar of the book build issue.

8] Swiggy IPO listing date: The book build issue is proposed for listing on the BSE and the NSE. The most likely date for a share listing is 13th November 2024.

9] Swiggy IPO lead managers: Kotak Mahindra Capital, Citigroup Global Markets India, Jefferies India, Avendus Capital, JP Morgan India, BofA Securities, and ICICI Securities have been appointed Lead Managers of the public issue.

Swiggy IPO: Should you apply?

10] Swiggy IPO review: Giving a ‘subscribe’ tag to the public issue, Rajan Shinde, Research Analyst at Mehta Equities, said, “Given its consistent innovation and strategic expansion, we believe Swiggy is well-positioned for sustained growth. Making it a compelling opportunity for investors seeking exposure in the evolving hyperlocal commerce space. Hence, by looking at all attributes, we recommend investors to “SUBSCRIBE” to Swiggy Ltd for a long-term perspective.”

Advising investors to apply, Anshul Jain, Head of Research at Lakshmishree Investment and Securities, said, “Swiggy’s valuation, nearly half of Zomato’s, may seem appealing, but it should not be seen as an arbitrage opportunity. For Swiggy to narrow the valuation gap, improvements in EBITDA to 3-4% and a higher Average Order Value (AOV) in quick commerce are essential. However, these changes are not expected in the near term. Therefore, we maintain a “Do Not Subscribe” rating for Swiggy’s IPO, given the significant challenges ahead.”

In addition, Dr Choksey, SBI Capital Securities, and Swastika Investmart have also assigned the public issue a ‘buy’ tag.

Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.