Swiggy, the popular food delivery platform, is set to launch its IPO on Wednesday, November 6. The subscription window will remain open for three days, concluding on Friday, November 8. This public offering has drawn significant attention from retail investors and high-net-worth individuals (HNIs) alike.
Offer Size and Components
Swiggy’s IPO is a substantial ₹11,327.43 crore book-building issue. It includes:
– Fresh Issue: 11.54 crore shares, valued at ₹4,499 crore.
– Offer-for-Sale (OFS): 17.51 crore shares, valued at ₹6,828.43 crore.
Key Dates for Investors
Investors should note the following critical dates for Swiggy’s IPO:
– Allotment Finalization: November 11
– Refunds and Demat Transfers: November 12
– Expected Listing Date: November 13
Price Band and Bidding Requirements
Swiggy has set its IPO price band between ₹371 and ₹390 per share. Here’s a breakdown of bidding sizes by investor type:
– Retail Investors: Minimum of 1 lot (38 shares), totaling ₹14,820.
– Small HNIs: Minimum of 14 lots (532 shares), totaling ₹2,07,480.
– Big HNIs: Minimum of 68 lots (2,584 shares), totaling ₹10,07,760.
For employees, Swiggy has allocated 7.5 lakh shares at a discounted rate of ₹25 below the issue price.
Lead Managers and Registrar
Kotak Mahindra Capital, Citigroup Global Markets India, Jefferies India, Avendus Capital, JP Morgan India, Bofa Securities India, and ICICI Securities are acting as lead managers for the IPO. Link Intime India Private Ltd is the appointed registrar.
Objectives of the IPO
Swiggy aims to allocate IPO proceeds toward:
1. Debt Reduction: Repaying or pre-paying debt for subsidiary Scootsy.
2. Expansion of Quick Commerce: Investing in dark store network setups for Instamart.
3. Technology and Marketing: Building cloud infrastructure and expanding brand visibility.
About Swiggy
Founded in 2014, Swiggy has grown into a leading platform offering food delivery, dine-out bookings, quick commerce through Instamart, and parcel delivery via Genie.
