Swiggy Debuts on Stock Market with ₹5,085 Crore Boost from Anchor Investors

Bidding for the initial public offering of the food delivery giant will continue until Friday, November 8, 2024, with the current grey market premium standing at ₹11.

Swiggy's initial public offering (IPO), valued at ₹11,327.43 crore, made its market debut on Wednesday, November 6, following the successful acquisition of ₹5,085.02 crore from anchor investors the previous day.

Full Details of the Swiggy IPO

The Swiggy initial public offering (IPO) is scheduled to commence for public subscription on Wednesday and will conclude on Friday. 

The allocation of shares is anticipated to take place on November 11, with the listing expected on November 13. 

The price range for the shares has been established between ₹371 and ₹390. The company seeks to generate ₹11,327.43 crore, based on the upper limit of the price range, through a mix of a fresh issue comprising 11.54 crore equity shares valued at ₹4,499 crore, alongside an offer for sale (OFS) of 17.51 crore shares amounting to ₹6,828.43 crore.

The minimum lot size is 38 shares, which means at the upper end of the price band, investors must put in ₹14,820 at minimum.

Seventy-five percent of the shares are allocated for Qualified Institutional Bidders (QIB), with fifteen percent designated for Non-Institutional Investors (NII) and ten percent reserved for retail investors. Additionally, a total of 750,000 shares have been set aside for employees at a discount of ₹25 from the issue price. 

The book running lead managers for this offering include Kotak Mahindra Capital Company, Citigroup Global Markets India, Jefferies India, Avendus Capital, JP Morgan India, BofA Securities, and ICICI Securities, while Link Intime India Private Ltd serves as the registrar.

 
The investors participating in the Offer for Sale (OFS) consist of 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.