Swiggy IPO: ₹11,327 crore issue opens November 6; check price band, objectives, retail allocation & key details

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2 min read | Updated on October 29, 2024, 11:15 IST

SUMMARY

Swiggy IPO: The ₹11,327 crore initial share sale is a fresh issue of shares worth ₹4,499 crore and an offer for sale (OFS) component of 175,087,863 shares. The company has reserved 10% of the offer size for retail investors.

Swiggy has reserved 10% of the offer size for retail investors.

Swiggy IPO: The initial public offering of food and grocery delivery giant Swiggy Ltd will open for subscription on November 6. The issue, which will conclude on November 8, has set a price band of ₹371-₹390 per share, according to red herring prospectus.

The ₹11,327 crore initial share sale is a fresh issuance of shares worth ₹4,499 crore and an offer for sale (OFS) component of 175,087,863 shares.

Under the OFS route, Accel India IV (Mauritius) Ltd, Inspired Elite Investments Ltd, Apoletto Asia Ltd, Coatue PE Asia XI LLC, Alpha Wave Ventures, LP, DST EuroAsia V B.V, Elevation Capital V Ltd, MIH India Food Holdings B.V, Tencent Cloud Europe B.V., and Norwest Venture Partners VII-A Mauritius are offloading their stake.

The bidding for anchor investors will take place on November 5.

Swiggy has reserved 75% of the offer size for qualified institutional buyers (QIBs), 15% for non-institutional investors (NIIs) and 10% for retail investors.

Swiggy IPO: How will the company use IPO proceeds?

Investment in the material subsidiary, Scootsy, for repayment or pre-payment of some borrowings.
Investment in Scootsy for expansion of dark store network for quick commerce segment and making lease and license payments of dark stores.
Investment in technology and cloud infrastructure.
Brand marketing and business promotion.
Funding inorganic growth.

Swiggy IPO: Allotment and listing date

Subscription dates: November 6-November 8
Allotment: November 11
Credit to Demat account & refund: November 12
Listing on BSE and NSE: November 13

Kotak Mahindra Capital Company Ltd, JP Morgan India Pvt Ltd, BofA Securities India Ltd, Citigroup Global Markets India Pvt Ltd, Jefferies India Pvt Ltd, Avendus Capital Pvt Ltd, and ICICI Securities are the issue's book-running lead managers. Link Intime India Pvt Ltd is the registrar.

Swiggy IPO: About the company

Swiggy Ltd is a food delivery and hyperlocal commerce platform. It launched the food delivery business in 2014 and quick commerce in 2020.

The company offers food delivery under Swiggy and delivery of household items under Instamart. Dinner reservations can be made by Dineout, event bookings under SteppinOut, hyperlocal commerce under Swiggy Minis, and pick-up and drop-off services under Genie.

To learn more about IPO listings, schedules, and upcoming IPOs, visit our page.

About The Author

Kamal Joshi is a business journalist who covers industries, markets and IPOs. He is passionate about breaking news and enjoys playing tennis, where he loves flexing his backhand.

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Swiggy IPO: ₹11,327 crore issue opens November 6; check price band, objectives, retail allocation & key details

Swiggy IPO: How will the company use IPO proceeds?

Swiggy IPO: Allotment and listing date

Swiggy IPO: About the company

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