Wed Oct 30 07:27:28 UTC 2024: ## Swiggy IPO Opens for Subscription Post Diwali, Aims to Raise ₹11,300 Crore

**New Delhi:** India’s leading online grocery delivery company, Swiggy, is set to launch its much-anticipated initial public offering (IPO) post Diwali, starting November 6th. Investors will have the opportunity to subscribe to the issue until November 8th. The anchor investor portion of the IPO will open on November 5th.

The price band for the IPO has been fixed between ₹371 and ₹390 per share. Swiggy aims to raise ₹11,300 crore through this IPO, comprising a fresh issue of ₹4,500 crore and an offer for sale (OFS) of ₹6,800 crore.

The IPO lot size is 65 equity shares. 75% of the IPO has been reserved for qualified institutional buyers (QIBs), 15% for non-institutional investors (NIIs), and 10% for retail investors. Employees will receive a discount of ₹25 per share.

Founded in 2014, Swiggy has expanded its operations beyond online food delivery to include grocery, household items, and quick commerce. The company faces competition from listed rival Zomato.

Swiggy’s revenue grew by 34% between March 2023 and March 2024, while its losses reduced from ₹4,179.31 crore to ₹2,350.24 crore during the same period.

The grey market premium (GMP) for Swiggy’s IPO is currently ₹25, according to InvestorGain.com. This suggests an estimated listing price of ₹415 per share, representing a 6.41% premium over the upper end of the IPO price band.

Read More