Swiggy IPO: GMP Falls As IPO Set To Be Launched Next Week, Check Key Details

Swiggy IPO is all set to be launched next week on November 6, 2024 with investors eligible to bid for shares till November 8. Swiggy has already set a price band of Rs 372 to Rs 390 per share for its IPO as it is slated to open for subscription from November 6. The IPO is a book-built of Rs 11,327 crore. It is a combination of fresh issue of 11.54 crore shares worth Rs 4,499.00 crore and offer for sale of 17.51 crore shares totaling Rs 6,828.43 crore. The market capitalisation of the company will be approximately Rs 87,299 crore.

Allotment

Swiggy IPO's allotment is likely to finalise by Monday, November 11, 2024 and will be listed on the bourses (NSE, BSE) with the precise date of listing fixed as November 13, 2024.

Latest GMP

Swiggy IPO last GMP is Rs 14 as on October 30, 2024 at 04:27 PM, declined from Rs 25-Rs 30. The IPO's estimated listing price is Rs 404 (cap price + today's GMP). The expected percentage gain/loss per share is 3.59%, according to investorgain.com.

Citigroup Global Markets India Private Limited, Kotak Mahindra Capital Company Limited, Jefferies India Private Limited, J.P. Morgan India Private Limited, Avendus Capital Pvt Ltd, ICICI Securities Limited, and Bofa Securities India Limited are the book running lead managers. The registrar for the issue is Link Intime India Private Ltd.

The largest shareholder in Swiggy is MIH India Food Holdings with a stake of 30.93%. Meanwhile, SoftBank Group's SVF II SONGBIRD (DE) LLC has 7.75% stake. Accel India has 4.71% stake and Tencent Cloud's stake stood at 3.64%. Meanwhile, Managing Director & Group CEO Sriharsha Majety and wholetime director Lakshmi Nandan Reddy hold 5.36% and 1.75% stake, respectively. They are also the co-founders.

It plans to use 1343.5 crore out of the net fresh issue proceeds to invest in its subsidiary company Scootsy. While Rs 703.4 crore are expected to be invested in technology and cloud infrastructure, as per reports available. The company has plans to spend Rs 1,115.3 crore on brand marketing and promotion of business and remaining will be used for general corporate use and inorganic growth.

Swiggy IPO Lot Size

Investors will be eligible to bid for a minimum of 38 shares and in multiple thereof.

The minimum amount of investment needed by retail investors will be Rs 14,820. The minimum lot size investment for sNII is 14 lots (532 shares), worth Rs 207,480, and for bNII, it is 68 lots (2,584 shares), amounting to Rs 1,007,760, according to chittorgarh.com.

About

Swiggy is India's pioneering on-demand convenience platform, catering to millions of consumers each month. Founded in 2014, its mission is to elevate the quality of life for the urban consumer by offering unparalleled convenience. With an extensive footprint in food delivery, Swiggy Food collaborates with nearly 2 lakh restaurants across 600+ cities. Swiggy Instamart, its quick commerce platform operating in 43 cities, delivers groceries and other essentials across 20+ categories in 10 minutes, according to its LinkedIn page.