Swiggy IPO: The IPO has received varying assessments from analysts. Given the issue’s fair pricing, some encourage investors to subscribe, while others advise against it because of “reported negative” cash flows, continuous losses, and difficulties with the growth strategy.
Swiggy IPO: A platform for fast commerce and food delivery Today marks the opening of Swiggy’s Rs 11,324 crore IPO. It includes a new issuance worth Rs 4,500 crore and the remainder as a selling offer. Several institutional investors, including Accel India, Apoletto Asia, Alpha Wave Ventures, DST Euro Asia, and Norwest Venture Partners, are selling off a portion of their stakes in the absence of a designated promoter. Debt repayment, dark store expansion, technology advancements, marketing, and acquisition plans will all be supported by the new issue money.
Swiggy IPO: Price brand, GMP
Investors can participate in the IPO until November 8. The company has established a price range of Rs 371-390 per share, with a minimum lot size of 38 shares and additional investments in multiples thereof.
The company’s shares currently show a Grey Market Premium (GMP) of Rs 12 in unofficial trading, suggesting a modest 3% premium above the issue price.
The much-awaited mega initial public offering (IPO) of Swiggy Ltd. is opening for subscription on Wednesday, November 6, and will be available for investors to bid till November 8.
The ₹11,327 crore IPO comprises a fresh issue of 11.54 crore shares aggregating to ₹4,499 crore, while existing shareholders will sell up to 17.5 crore shares aggregating to ₹6,828 crore.
Swiggy IPO price band
The company has fixed a price band in the range of ₹371-390, where investors can bid for 38 shares in one lot.
Swiggy IPO GMP
Ahead of the IPO opening, the unlisted shares of the Softbank-backed company are trading with a GMP of ₹20, indicating muted demand for the issue.
The grey market is an unofficial ecosystem where shares start trading before the allotment in the IPO and continue till the listing day. Most investors track the GMP to get an idea of the listing price.