Swiggy, the well-known Indian food delivery platform, is set to launch its Initial Public Offering (IPO) soon. The IPO will open for subscription on November 6, 2024, and will close on November 8, 2024. This event is highly anticipated, as it will allow investors to buy shares of one of the leading online food ordering services in India. Here’s everything you should know about the Swiggy IPO.
Key Details of the Swiggy IPO
The total amount Swiggy hopes to raise from this IPO is around ₹11,327 crore. This includes a fresh issue of ₹4,499 crore and an Offer for Sale (OFS) of ₹6,828 crore. The OFS allows existing shareholders to sell their shares to the public.
The allocation of shares for anchor investors is scheduled for November 5, 2024. Anchor investors are usually institutional investors who buy shares before the IPO is available to the general public. This can create demand for the stock, which is a good sign for retail investors.
The price band for the IPO will be announced on October 30, 2024. This price band will help potential investors decide how much they are willing to pay for each share. After the subscription period ends on November 8, the basis for allotment of shares will be finalized on November 11. Refunds for those who do not get shares will be processed on November 12, and shares will be credited to the demat accounts of investors on the same day.
Expected Listing Date
Swiggy shares are expected to be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on November 13, 2024. The listing will allow investors to trade Swiggy shares in the open market.
Should You Invest?
Investing in the Swiggy IPO carries risks, but it also presents opportunities for growth. As with any investment, it’s essential to do your research and consider your financial goals. Consulting with a financial advisor can also help you make an informed decision.
The Swiggy IPO is an exciting development for the Indian stock market. With its plans for expansion and improvement, it may be an investment worth considering for those who believe in the future of online food delivery services.
