Swiggy IPO hits markets today after raising ₹5,085.02 crore via anchor investors

Bidding for the food delivery giant’s IPO will remain open till Friday, November 8, 2024, and its grey market premium on Wednesday is ₹11, according to a Mint report.

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Details of the Swiggy IPO

The Swiggy IPO will open up for public subscription on Wednesday and will be closed on Friday. 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.

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.

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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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