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Swiggy IPO Day 1 Highlights: Issue subscribed 12% as retail investors lead; check lot size, key dates and more
6 min read | Updated on November 06, 2024, 17:08 IST
SUMMARY
Swiggy IPO Day 1 Highlights: The Bengaluru-based firm aims to raise ₹11,327 crore by issuance of new shares valued at ₹4,499 crore and an offer-for-sale component of ₹6,828 crore.
Swiggy Limited offers food delivery and quick commerce services.
According to the consolidated data on the NSE, the issue has received bids for 1,89,80,620 shares against 16,01,09,703 shares on offer on day 1.
| Category | Number of times subscription |
|---|---|
| Qualified Institutional Buyers (QIBs) | -- |
| Non-institutional investors | 6% |
| Retail Individual Investors (RIIs) | 54% |
| Total | 12% |
As of June 30, 2024, the company had a total employee count of 5,401. It handled 2.66 million square foot of warehousing space across 13 cities and served ~87,000 retailers and wholesalers.
The demand was led by retail investors, who subscribed their portion 50%. The non-institutional portion was booked 5%.
| Category | Number of times subscription |
|---|---|
| Qualified Institutional Buyers (QIBs) | -- |
| Non-institutional investors | 4% |
| Retail Individual Investors (RIIs) | 45% |
| Total | 10% |
- Invest in subsidiary- Scootsy
- Invest in technology and cloud infrastructure
- Brand marketing and business promotion
- Fund inorganic growth through acquisitions
- General corporate expenses
The retail investors category was booked 39%, while the non-institutional investors (NIIs) quota fetched 3% subscription.
- Anand Kripalu, Chairman and Independent Director
- Sriharsha Majety, Managing Director and Group CEO
- Lakshmi Nandan Reddy Obul, Whole-time Director - Head of Innovation
- Suparna Mitra, Independent Director
- Shailesh Vishnubhai Haribhakti, Independent Director
- Sahil Barua, Independent Director
- Ashutosh Sharma, Nominee Director (Non-Executive)
- Roger Clark Rabalais, Nominee Director (Non-Executive)
- Anand Daniel, Nominee Director (Non-Executive)
- Sumer Juneja, Nominee Director (Non-Executive)
| Category | Number of times subscription |
|---|---|
| Qualified Institutional Buyers (QIBs) | -- |
| Non-institutional investors | 3% |
| Retail Individual Investors (RIIs) | 33% |
| Total | 7% |
The initial share sale received bids for 1,02,28,612 shares against 16,01,09,703 shares on offer, according to NSE data.
The retail individual investors' category was subscribed 31%, while non-institutional investors' quota fetched 2% subscription.
- Sriharsha Majety, Managing Director and Group CEO
- Nandan Reddy, Whole-time Director and Head of Innovation
- Rohit Kapoor, CEO- Food Marketplace
- Phani Kishan, Chief Growth Officer
- Rahul Bothra, Chief Financial Officer
- Madhusudhan Rao, Chief Technology Officer
- Girish Menon, Chief Human Resources Officer
- Amitesh Jha, CEO- Instamart
| Category | Number of times subscription |
|---|---|
| Qualified Institutional Buyers (QIBs) | -- |
| Non-institutional investors | 1% |
| Retail Individual Investors (RIIs) | 18% |
| Total | 4% |
According to the consolidated data on the NSE, the issue has received bids for 32,09,366 shares against 16,01,09,703 shares on offer as of 10:24 am.
| Category | Number of times subscription |
|---|---|
| Qualified Institutional Buyers (QIBs) | -- |
| Non-institutional investors | 1% |
| Retail Individual Investors (RIIs) | 9% |
| Total | 2% |
The Swiggy IPO price band has been set at ₹371-₹390 per share.
- Bidding period: November 6 to November 8
- Allotment finalisation: November 11
- Refund initiation: November 11
- Demat transfer: November 12
- Listing on NSE and BSE: November 13
The Swiggy IPO lot size is set at 38 equity shares, and an investor can apply for at least one lot and in multiples there after.
The Bengaluru-based company seeks to raise ₹11,327 crore (USD 11.3 billion) by offering new equity shares worth ₹4,499 crore and an offer-for-sale (OFS) component of ₹6,828 crore.
The net proceeds will be used to invest in subsidiary, upgrade technology and cloud infrastructure, brand marketing and business promotion, debt payment, inorganic growth, and general corporate purposes.
In the anchor round, shares were also allotted to SBI Mutual Fund (MF), HDFC Life Insurance Company Ltd, ICICI Prudential MF, ICICI Prudential Life Insurance Company Ltd, and SBI Life Insurance Co. Ltd.
Swiggy IPO date: Lot size
Interested investors can apply for at least 38 shares worth ₹14,098 and in multiples after that.
Swiggy IPO date: Allotment and listing date
The allotment finalisation is expected to take place on November 11, 2024. Investors allotted equity shares can expect them in their Demat account on November 12. The Swiggy IPO listing date is November 13 on the NSE and the BSE.
Swiggy Limited, incorporated in 2013, offers food delivery and quick commerce services.
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