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Swiggy IPO Day 2 Highlights: Issue subscribed 35% as retail investors lead; check lot size and key details
8 min read | Updated on November 07, 2024, 17:53 IST
SUMMARY
Swiggy IPO Day 2 Highlights: Investors can bid for at least of one lot size or 38 shares of food delivery and quick-commerce major Swiggy Limited worth ₹14,098 and in multiples after that.
Swiggy IPO, which has a price band of ₹371 to ₹390 per share, is open from November 6 to November 8.
| Sr. No. | Category | No of Times of Total Meant for the Category |
|---|---|---|
| 1 | Qualified Institutional Buyers (QIBs) | 0.28 |
| 1(a) | Foreign Institutional Investors (FIIs) | - |
| 1(b) | Domestic Financial Institutions | - |
| 1(c) | Mutual Funds | - |
| 1(d) | Others | - |
| 2 | Non Institutional Investors | 0.14 |
| 2.1 | Non Institutional Investors (Over ₹10 lakh) | 0.10 |
| 2.1(a) | Corporates | - |
| 2.1(b) | Individuals (Other than RIIs) | - |
| 2.1(c) | Others | - |
| 2.2 | Non Institutional Investors (More than ₹2 lakh upto ₹10 lakh) | 0.21 |
| 2.2(a) | Corporates | - |
| 2.2(b) | Individuals (Other than RIIs) | - |
| 2.2(c) | Others | - |
| 3 | Retail Individual Investors (RIIs) | 0.84 |
| 3(a) | Cut Off | - |
| 3(b) | Price Bids | - |
| 4 | Employees | 1.15 |
| 4(a) | Cut Off | - |
| 4(b) | Price Bids | - |
| - | Total | 0.35 |
The retail investors quota was booked 82%, while the NIIs portion fetched a 12% subscription. The part reserved for QIBs was subscribed 28%.
| Sr. No. | Category | NO OF TIMES OF TOTAL MEANT FOR THE CATEGORY |
|---|---|---|
| 1 | Qualified Institutional Buyers (QIBs) | 0.25 |
| 1(a) | Foreign Institutional Investors (FIIs) | - |
| 1(b) | Domestic Financial Institutions | - |
| 1(c) | Mutual funds | - |
| 1(d) | Others | - |
| 2 | Non Institutional Investors | 0.12 |
| 2.1 | Non Institutional Investors (Over ₹10 lakh) | 0.08 |
| 2.1(a) | Corporates | - |
| 2.1(b) | Individuals (Other than RIIs) | - |
| 2.1(c) | Others | - |
| 2.2 | Non Institutional Investors (Over ₹2 lakh upto ₹10 lakh) | 0.20 |
| 2.2(a) | Corporates | - |
| 2.2(b) | Individuals (Other than RIIs) | - |
| 2.2(c) | Others | - |
| 3 | Retail Individual Investors (RIIs) | 0.81 |
| 3(a) | Cut Off | - |
| 3(b) | Price bids | - |
| 4 | Employees | 1.11 |
| 4(a) | Cut Off | - |
| 4(b) | Price Bids | - |
| - | Total | 0.32 |
- Invest in subsidiary Scootsy
- Invest in cloud infrastructure and technology
- Business promotion and brand marketing
- Fund inorganic growth
- General corporate expenses
According to the NSE data, the issue has got bids for 3,98,96,922 equity shares against 16,01,09,703 shares on offer on day 2 so far.
| Category | Number of times subscription |
|---|---|
| Qualified Institutional Buyers (QIBs) | 15% |
| Non-institutional investors | 10% |
| Retail Individual Investors (RIIs) | 76% |
| Total | 25% |
- Sriharsha Majety, Managing Director and Group CEO
- Rohit Kapoor, CEO- Food Marketplace
- Nandan Reddy, Whole-time Director and Head of Innovation
- Rahul Bothra, Chief Financial Officer
- Phani Kishan, Chief Growth Officer
- Amitesh Jha, CEO- Instamart
- Madhusudhan Rao, Chief Technology Officer
- Girish Menon, Chief Human Resources Officer
The retail investors quota was subscribed 73%, while the NIIs category fetched a 10% subscription. The portion reserved for QIBs was booked at 14%.
- Sriharsha Majety, Managing Director and Group CEO
- Anand Kripalu, Chairman and Independent Director
- Nandan Reddy, Whole-time Director - Head of Innovation
- Shailesh Vishnubhai Haribhakti, Independent Director
- Suparna Mitra, Independent Director
- Sahil Barua, Independent Director
- Sumer Juneja, Nominee Director (Non-Executive)
- Ashutosh Sharma, Nominee Director (Non-Executive)
- Roger Clark Rabalais, Nominee Director (Non-Executive)
- Anand Daniel, Nominee Director (Non-Executive)
| Sr. No. | Category | No of Times of Total Meant for the Category |
|---|---|---|
| 1 | Qualified Institutional Buyers (QIBs) | 0.00 |
| 1(a) | Foreign Institutional Investors (FIIs) | - |
| 1(b) | Domestic Financial Institutions | - |
| 1(c) | Mutual Funds | - |
| 1(d) | Others | - |
| 2 | Non Institutional Investors | 0.09 |
| 2.1 | Non Institutional Investors (Over ₹10 lakh) | 0.05 |
| 2.1(a) | Corporates | - |
| 2.1(b) | Individuals (Other than RIIs) | - |
| 2.1(c) | Others | - |
| 2.2 | Non Institutional Investors ( Over ₹2 lakh to ₹10 lakh) | 0.16 |
| 2.2(a) | Corporates | - |
| 2.2(b) | Individuals (Other than RIIs) | - |
| 2.2(c) | Others | - |
| 3 | Retail Individual Investors (RIIs) | 0.69 |
| 3(a) | Cut Off | - |
| 3(b) | Price Bids | - |
| 4 | Employees | 0.93 |
| 4(a) | Cut Off | - |
| 4(b) | Price Bids | - |
| - | Total | 0.15 |
The retail investors category subscribed 67%, while the NIIs quota attracted 9% subscription.
According to the NSE data, the issue has received bids for 2,19,62,404 shares against 16,01,09,703 shares on offer on day 2 so far.
| Category | Number of times subscription |
|---|---|
| Qualified Institutional Buyers (QIBs) | -- |
| Non-institutional investors | 8% |
| Retail Individual Investors (RIIs) | 62% |
| Total | 14% |
| Particulars | FY22 | FY23 | FY24 |
|---|---|---|---|
| Revenue | ₹5,704 crore | ₹8,264 crore | ₹11,247 crore |
| Net Loss | ₹3,628 crore | ₹4,179 crore | ₹2,350 crore |
- Subscription period: November 6 to November 8
- Allotment finalisation: November 11
- Initiation of refund: November 11
- Demat transfer: November 12
- Listing: November 13
Investors can bid for a minimum of one lot size or 38 shares worth ₹14,098 and in multiples after that.
Retail investors led the demand by subscribing to 54% of the portion reserved for them, while the non-institutional investors (NIIs) quota was booked at 6%.
The IPO, which has a price band of ₹371 to ₹390 per share, is open from November 6 to November 8.
The ₹11,327 crore issue is a fresh issuance of ₹4,499 crore and an offer-for-sale of ₹6,828 crore.
Swiggy IPO: Objectives
According to the IPO papers, the money raised will be used to invest in subsidiary Scootsy, technology and cloud infrastructure, business promotion and marketing, debt repayment, inorganic growth, and general corporate purposes.
JP Morgan India Pvt Ltd, Avendus Capital Pvt Ltd, ICICI Securities Ltd, BofA Securities India Ltd, Jefferies India Pvt Ltd, Citigroup Global Markets India Pvt Ltd, and Kotak Mahindra Capital Company Ltd are the book-running lead managers for the issue.
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