New Delhi: Food delivery aggregator Swiggy’s Rs 11,300 crore IPO will open for subscription on Wednesday, November 6, 2024, and close on Friday, November 8, 2024. Swiggy IPO price band has been set at Rs 371-390 apiece. Swiggy IPO will open for anchor investors on November 5, 2024, and the issue comprises an offer for sale of shares worth Rs 6,800 crore, apart from a fresh issuance of shares worth Rs 4,500 crore.
Swiggy plans to use RS 137.41 crore from the IPO proceeds towards debt repayment of its unit Scootsy apart from Rs 982 crore earmarked for this entity’s expansion of dark stores to boost its quick commerce arm Swiggy Intsamart. Technology and infrastructure will receive attention from Swiggy which also plans to invest Rs 929.50 crore towards brand marketing and promotion.
Back by Accel India, Elevartion Capital and Norweast Ventures, among others, Swiggy is valued at $13 billion as of April 2024. Swiggy annual revenue for the period ending March 2023 stood ar $1.09 billion, according to its DRHP. Swiggy employs over 4,700 staffers, according to Tracxn data.
Swiggy IPO GMP
Food delivery aggregator Swiggy’s grey market6 premium of GMP stood at Rs 14 apiece on October 30, 2024, down from Rs 25 apiece on October 29, 2024. The company’s indicated listing price is Rs 404 apiece, a 3.59 per cent premium over the upper IPO price band, according to Investorgain.
Companies set to offload shares in Swiggy OFS
S. No.
Companies in Swiggy OFS
1
Accel India IV (Mauritius)
2
Apoletto Asia
3
Alpha Wave Ventures
4
LP
5
Coatue PE Asia XI LLC
6
DST EuroAsia V
7
Elevation Capital V
8
Inspired Elite Investments
9
MIH India Food Holdings
10
Norwest Venture Partners VII-A Mauritius
11
Tencent Cloud Europe
Key investor, Masayoshi Son-led SoftBank Group is planning to remain invested in Swiggy, which competes with Zomato in the food delivery category. Swiggy Instamart is in direct competition with Zomato-owned Blinkit, Tata BigBasket, and Zepto in the quick commerce delivery category.
(Disclaimer: This article is only meant to provide information. News9 does not recommend buying or selling shares or subscriptions of any IPO and Mutual Funds.)
Swiggy IPO: The food delivery aggregator’s public issue was priced at Rs 371-390 apiece. Check Swiggy’s IPO GMP and key dates.v Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
