Swiggy, one of India’s leading online food delivery services, has launched its Initial Public Offering (IPO) on November 6, 2024. The company aims to raise ₹11,327.43 crore from the IPO, which will be a mix of fresh shares and an offer for sale (OFS). If you’re looking to invest in this highly anticipated IPO, here’s a breakdown of everything you need to know:
Swiggy IPO Price and Details
The price band for the Swiggy IPO has been set between ₹371 and ₹390 per share. The company will offer a lot size of 38 shares. This means that if you want to invest, you’ll need to buy a minimum of 38 shares in one lot. The IPO will remain open for subscription from November 6 to November 8, 2024, giving investors three days to apply.
The Grey Market Premium (GMP) is an important indicator of how a stock is expected to perform once it lists on the stock exchanges. As of now, Swiggy’s shares are trading at a GMP of ₹11, indicating a positive outlook from the market. This suggests that many investors expect Swiggy’s stock to perform well post-listing.
On the first day of bidding, the IPO was subscribed 0.05 times , with the retail portion subscribed 0.25 times. The non-institutional investor (NII) portion was subscribed 0.02 times. These numbers will continue to change as more investors place their bids. You can check the live subscription status on financial websites and apps to stay updated.
Key Dates for Swiggy IPO
- IPO Opening Date: November 6, 2024
- IPO Closing Date: November 8, 2024
- Allotment Date: November 9, 2024 (Tentative)
- Listing Date: November 13, 2024
These dates are essential for investors, as they mark the key stages of the IPO process, from subscription to the final listing on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
Swiggy is offering a combination of fresh shares and an offer for sale. The primary goal is to raise ₹11,327.43 crore, which will help the company fund its expansion plans and pay down some debt. However, it is also important to note that the company has been incurring losses, which may raise concerns for some investors.
Swiggy has become a household name in India, offering fast food delivery and a range of other services. The company has a massive customer base, and the Indian food delivery market is expected to continue growing. However, the company has been posting consistent losses, which has made some investors cautious.
The Swiggy IPO is an exciting opportunity, but like all investments, it comes with risks. The company’s strong brand and growth potential in the expanding food delivery market make it an attractive option for long-term investors. However, Swiggy’s financial losses and high valuation should be carefully considered.
Before making any investment, it’s always a good idea to consult with a financial advisor to get personalized advice based on your financial goals.
If you’re considering applying for the Swiggy IPO, make sure to stay informed about the subscription status and key dates to ensure you don’t miss out on this opportunity.
