Swiggy IPO receives bid worth over ₹22,400 crore, issue booked 3.59 times; Check allotment and listing date

Swiggy Limited IPO subscription closed on Friday, November 8, with a decent demand as the mainboard issue was booked 3.59 times. After the end of the bidding period, the investors are now waiting for the Swiggy IPO share allotment status.

The food delivery platform received bids worth over ₹22,436 crore compared to the issue size of ₹11,327.4 as more than 57.53 crore shares were subscribed compared to the 16.01 crore shares on offer.

The food delivery major is expected to finalise the IPO share allotment status on Monday, November 11. The three-day bidding window for Swiggy IPO was open from November 6 to November 8.

Investors who have applied for the public issue can check the Swiggy IPO share allotment status on the official website of the issue registrar, Link Intime India Private Limited. The Swiggy IPO allotment status can also be checked on the NSE and BSE websites.

Step by step guide to check Swiggy IPO share allotment status on Link Intime India

• Go to the Link Intime India Pvt Ltd website using this link: https://www.linkintime.co.in/
• Visit the ‘Investor Services’ tab on the main menu and select ‘Public Issues’
• Select ‘Swiggy Limited’ from the drop down list for issue names
• Type in any of the following details: Application No, DP/Client ID, PAN, or Account No / IFSC
• Click on the ‘Submit’ button

It’s important to note that the IPO share allotment status will only appear on screen after the company finalises the share allocation.

Steps to check Swiggy IPO share allotment status on NSE

• Visit the NSE IPO allotment status page using this link: www.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp
• Enter your credentials (username and password) to login to the NSE website (New users need to mandatorily create a fresh login id to proceed)
• Select ‘Swiggy Limited’ from the drop-down menu
• Enter PAN details
• Type in your IPO application Number
• Click on the ‘I am not a Robot’ checkbox
• Hit the ‘Submit’ button

Similarly, investors can check Swiggy IPO share allotment status on the BSE website by entering their PAN details and IPO application number.

Swiggy IPO receives muted response on first two days

The much-talked-about IPO of the food delivery major saw a cold response from investors across categories on the first two days of bidding. The issue was booked only 12% on the first day. However, the IPO sailed through on the final day, November 8, driven by the QIBs.

The muted demand for the Swiggy IPO in the first two days of bidding has gone the same way recently seen by Hyundai Motor India Limited’s ₹27,870.16 crore IPO, the largest so far in India, which closed recently. The experts are attributing multiple factors to the weak demand for Swiggy IPO.

After the lacklustre market debut of the largest IPO of Hyundai Motor India, the investors may have taken a cautious approach towards big-ticket issues. Swiggy IPO was also open along with three other mainboard issues of Sagility India, ACME Solar Holdings and Niva Bupa Health Insurance Company.

Multiple IPOs opening simultaneously may have given investors different choices in deploying their funds. Besides this, investors are cautious amid continued foreign investors' sell-off in equity markets. Moreover, Swiggy reported a net loss of ₹611 core in the June quarter of the current fiscal. In a weak market, Swiggy’s losses could have been a matter of concern for the investors in the primary market.

Swiggy IPO subscription details

The retail portion was subscribed 1.14 times as investors placed bids for nearly 3.31 crore shares against 2.89 crore shares set aside for the category. The Non-Institutional Investors (NIIs) applied for over 1.79 crore shares against 4.34 crore shares set aside for the category, booking their quota 41%.

The Qualified Institutional Buyers (QIBs) subscribed the portion reserved for them 6.02 times. The QIBs applied for nearly 5.31 crore shares against 8.69 crore shares set aside for the segment.

Employees of the company placed bids for over 12.37 lakh shares compared to 7.5 lakh shares set aside for them. The issue was booked 1.65 times in the employees’ category.

Swiggy IPO listing date

Subsequent to the finalisation of the share allotment status, the company will initiate refunds for the unsuccessful bidders on Tuesday, November 12. Successful bidders will receive shares of Swiggy Limited in their Demat accounts the same day as well.

Shares of Swiggy Limited will be listed on the NSE and BSE. Shares of the food-delivery platform are scheduled to make debut on the stock exchanges on Wednesday, November 13.

Swiggy IPO Details

Swiggy IPO was a combination of fresh issue of 11.54 crore shares, aggregating to ₹4,499 crore, and an offer-for-sale (OFS) of 17.51 crore shares aggregating to ₹6,828.43 crore.

The IPO price band was fixed at ₹371 to ₹390 per share. The minimum application size for retail investors was a single lot of 38 shares, aggregating to an investment of ₹14,820.

About Swiggy Limited

Swiggy Limited was founded in 2014. The company provides a platform to users for getting food, grocery and household goods delivered to their homes. The company’s business is divided into five units namely: food delivery, out-of-home consumption, quick commerce, supply chain and distribution, and platform innovation for new initiatives. The company employed 5,401 workers as of June 30, 2024.