Swiggy IPO opens on November 6: Food delivery major raises nearly ₹5,100 crore from anchor investors

According to a stock exchange filing, Swiggy allocated nearly 13.04 crore equity shares to 151 fund schemes at ₹390 per piece, the upper end of the IPO price band.

Fidelity, SBI Mutual Fund, Societe Generale, HSBC, Nomura, ICICI Prudential Mutual Fund, BNP Paribas and Allianz Global participated in the anchor investment round.

ICICI Prudential Life, SBI Life, and HDFC Life were among the domestic institutional investors that participated in the anchor round.

Global investors such as Norges, Capital Group, and the British Columbia Investment Management Corporation also participated.

The ₹11,327-crore mainboard issue of the food and grocery delivery major comprises a fresh issue of 11.54 crore shares, worth up to ₹4,499 crore, and an offer for sale of 17.51 crore shares, amounting to ₹6,828.43 crore.

Venture capital fund Accel India, Alpha Wave Ventures, Tencent Cloud Europe, Coatue PE Asia XI LLC, DST EuroAsia V B.V., Elevation Capital V Limited, and Norwest Venture Partners VII-A-Mauritius are among the selling shareholders.

The company has also reserved up to 7,50,000 shares for employees at a discount of ₹25 to the issue price.

Swiggy has fixed the IPO price band at ₹371 to ₹390 apiece. The minimum lot size is 38 shares, and the minimum investment required is ₹14,820 for retail investors.

Swiggy IPO opens for subscription on Wednesday, November 6, and closes on Friday, November 8. The company will finalise share allotment on November 11 and initiate refunds on November 12. The tentative listing date for the IPO is November 13.

Swiggy has proposed using the IPO proceeds from the fresh issue to repay a debt of ₹250 crore. The company also proposes using up to ₹164.80 crore through equity to invest in its subsidiary, Scootsy.

According to RHP, investments will also be made in dark stores used by the quick commerce business, technology and cloud infrastructure, branding, and acquisitions.