Swiggy IPO is a much-awaited one among investors. Everyone is waiting eagerly for this food delivery company’s IPO. Will Swiggy receive a good response on its upcoming IPO? Swiggy’s competitor Zomato is also planning to raise funds through QIP near Swiggy’s IPO. Thus, it will be interesting to see who gets better response and support from the investors and the public. Swiggy is also going to enter the stock market soon. Let us learn more about Swiggy’s IPO below.
Swiggy To Open Its IPO Next Week
Swiggy is going to open its IPO on 6 November 2024 and will close on 8 November 2024. It has a face value of Rs. 1 per share with a price band between Rs. 371 to Rs. 390 per share. It will register in both NSE and BSE. There will be different categories of investors in the IPO. QIB will have 75% of the shares, Retail category will have 10% of the shares. While NII will have 15% of the share.
DRHP Details & More
The company will allot the shares on 11 November 2024. While it is expected to be listed on 13 November 2024. The Gret Market Premium (GMP) price starts from today. It is Rs. 45 as of 29 Oct 2024. Thus, the share is expected to be listed at Rs. 435 per share. Swiggy will be raising Rs. 11,327.43 crores with fresh issue of Rs. 11.54 crores shares aggregating to Rs. 4,499 crores. The offer for sale will be for 17.51 crore shares.
Swiggy’s IPO will be among the most awaited IPOs in history. The company filed its DRHP in a secretive way. Thus, no one knew the exact details of Swiggy’s IPO. It has the following book running lead managers.
- Kotak Mahindra Capital Company Limited
- Citigroup Global Markets India Private Limited
- Jefferies India Private Limited
- Avendus Capital Pvt Ltd
- J.P. Morgan India Private Limited
- Bofa Securities India Limited
- ICICI Securities Limited.
After buying the shares in the IPO. The investors will be able to check their allotment status on Link Intime India Private Ltd’s website. You just need to enter the company name, PAN Number/ Application Number or DP Client ID, and Search. The details will appear in front of you. Swiggy’s Instamart is its strong support. Investors forecast positive growth for the company in future. Thus, investing in Swiggy can be an investor’s preference. Its competitor, Zomato has a share price of Rs. 252.25 per share. The analyst is providing strong recommendations to buy this share. It opened at Rs. 254.95 and closed at Rs. 252.20 per share. Stay tuned for more information.