Swiggy IPO is here! Know price band, lot size and other details
By Gargi Chaudhry | First Published Nov 6, 2024, 11:39 AM ISTSwiggy's IPO launched on Wednesday with a price range of Rs 371-390 per share. Initial subscriptions and grey market activity indicate lukewarm interest, with shares trading at a slight premium in the unofficial market.
Swiggy, a food and grocery delivery service, has launched its first public offering (IPO) to the public today, Wednesday. The Rs 11,327.47-crore initial public offering (IPO), which is scheduled to close on Friday, has a price range of Rs 371 to Rs 390 per share. However, initial subscription numbers and the grey market activity show a subdued interest in the offering. The IPO got a 0.02 times subscription up to 10:23 am on the first day of bidding on Wednesday, resulting in offers for 33,25,646 shares as opposed to the 16,01,09,703 shares that were up for grabs.
Market watchers report that there is a low level of interest in Swiggy's unlisted shares, which are now trading at Rs 402 on the gray market, only 3.08 percent over the issue price (GMP).
Swiggy IPO: Launch dateLatest Videos
Between November 6 and November 8, the public will be able to subscribe to the Swiggy IPO. On November 11, the allocation will be finalized, and on November 13, the listing will occur on the BSE and NSE.
Swiggy IPO: Price range and lot size
The IPO's price range has been set between Rs 371 and Rs 390 per share. A fixed lot size of 38 shares has been established. Retail investors must apply for at least one lot of 38 shares, or many lots of 38 shares. For small NIIs, the minimum lot size investment is 14 lots (532 shares), which is equivalent to Rs 2,07,480; for large NIIs, it is 68 lots (2,584 shares), which is equivalent to Rs 10,07,760.
Swiggy IPO: Other details
According to reports, the Swiggy IPO consists of both an offer for sale (OFS) of Rs 6,800 crore and a new issue of shares valued at Rs 4,500 crore. Accel India IV (Mauritius) Ltd, Apoletto Asia Ltd, Alpha Wave Ventures, LP, Coatue PE Asia XI LLC, DST EuroAsia V B.V, Elevation Capital V Ltd, Inspired Elite Investments Ltd, MIH India Food Holdings B.V, Norwest Venture Partners VII-A Mauritius, and Tencent Cloud Europe B.V. are the companies selling shares through the OFS route. The chunk that early investors like Accel, Elevation Capital, and Norwest Ventures chose to sell is yielding returns of up to 35 times. Conversely, SoftBank is still still involved.
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