The much-anticipated Swiggy IPO is set to launch on November 6, 2023, and aims to raise a staggering ₹11,327 crore. This initial public offering has garnered significant interest from investors and is poised to reshape the landscape of India’s online food ordering sector.
| Table of Contents |
|---|
| Swiggy IPO Details |
| Investor Interest |
| Issue Breakdown |
| Lot Size and Listing Date |
| Utilization of Funds |
| Allotment and Business Overview |
Swiggy IPO Details
The Swiggy IPO sets the price band at ₹371-₹390 per share, requiring a minimum investment of ₹14,820 for investors wishing to participate. As anticipation builds, the grey market premium (GMP) currently stands at ₹22, reflecting a moderate optimism in the eyes of retail investors.
Investor Interest
Investor enthusiasm for the Swiggy IPO has surged, with bids totaling over $15 billion, significantly surpassing the reserved portion of the shares. This extraordinary demand demonstrates the faith investors have in Swiggy’s growth potential and market position.
Issue Breakdown
This public offering consists of a fresh issue of 11.54 crore shares along with an offer for sale (OFS) of 17.51 crore shares. The combination of fresh shares and existing shares being sold by current shareholders marks a significant move towards strengthening the company’s capital structure.
Lot Size and Listing Date
Investors looking to apply for the IPO will need to consider that the minimum lot size for an application is 38 shares. Shares of Swiggy are expected to be listed on both the BSE and NSE on November 13, 2023, giving investors a short window of time to secure their positions.
Utilization of Funds
The net proceeds from the IPO will be strategically utilized across multiple objectives. These include investments in subsidiaries, managing existing debts, expanding the dark store network, enhancing technology infrastructure, and promoting the business. This roadmap highlights Swiggy’s commitment to innovation and growth in a competitive market.
Allotment and Business Overview
The share allotment process is expected to be finalized on November 11, with shares credited to successful bidders’ demat accounts by November 12. Swiggy has showcased remarkable revenue growth of 34% between March 2023 and March 2024. Moreover, the company has successfully reduced its losses during this period, indicating robust operational efficiency.
FAQs
- What is the purpose of the Swiggy IPO? The IPO aims to raise ₹11,327 crore for investment in subsidiaries, debt management, expanding its dark store network, enhancing technology infrastructure, and business promotion.
- When will the Swiggy shares be listed? The shares are expected to be listed on November 13, 2023, on the BSE and NSE.
- What is the grey market premium for Swiggy shares? The current grey market premium (GMP) for Swiggy is ₹22.
