Nov 07, 2024 01:46 PM IST
The first day of the Swiggy IPO saw lukewarm response, with a 12% subscription of which, retail investors booked 54% of their reserved portion
The Swiggy IPO is currently on its second day of bidding on Thursday, November 7, 2024.
On day 2, the public issue had been booked 24% so far, according to a Mint report which added that the retail portion has been subscribed 74%.
The grey market premium (GMP) today is ₹9.50, which is lower from yesterday’s ₹11.
Details of the Swiggy IPO
The Swiggy IPO was opened up for public subscription on Wednesday, November 6, and will close on Friday, November 8. The allotment may likely be November 11 and the listing date may be November 13.
The price band is set between ₹371 and ₹390 per share.
The company aims to raise ₹11,327.43 crore (considering the upper end of the price band) through a combination of a fresh issue including 11.54 crore equity shares worth ₹4,499 crore and an offer for sale (OFS) of 17.51 crore shares worth ₹6,828.43 crore.
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Its first day saw lukewarm response, with a 12% subscription. Retail investors booked 54% of their reserved portion, while NIIs booked 0.06% and the QIB portion remained unsubscribed.
The grey market premium (GMP) is ₹22 per share, which is a premium of 5.64%, at ₹412 per share, compared to the issue price of ₹390 per share.
The minimum lot size is 38 shares, which means at the upper end of the price band, investors have to put in ₹14,820 at minimum.
75% of the shares are reserved for Qualified Institutional Bidders (QIB), 15% for Non-Institutional Investors (NII) and 10% for retail investors.
Employees are reserved 750,000 shares at a discount of ₹25 from the issue price.
Kotak Mahindra Capital Company, Citigroup Global Markets India, Jefferies India, Avendus Capital, JP Morgan India, BofA Securities and ICICI Securities are the book running lead managers, while Link Intime India Private Ltd is the registrar.
Investors who are selling shares for the OFS include Accel India IV (Mauritius) Ltd, Apoletto Asia Ltd, Alpha Wave Ventures, LP, Coatue PE Asia XI LLC, DST EuroAsia V B.V, Elevation Capital V Ltd, Inspired Elite Investments Ltd, MIH India Food Holdings B.V, Norwest Venture Partners VII-A Mauritius and Tencent Cloud Europe B.V.
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