Mon Nov 04 14:58:22 UTC 2024: ## Swiggy IPO Opens on November 6th: Brokerages Suggest Long-Term Investment

**New Delhi, India -** The highly anticipated initial public offering (IPO) of foodtech giant Swiggy is set to open on November 6th, with investors eager to learn about potential returns. While both Bajaj Broking and SBI Securities advise subscribing to the offer, they differ in their views on the pricing.

Bajaj Broking, noting Swiggy’s continued financial losses over the past three fiscal years, believes the IPO is “aggressively priced.” The brokerage points to Swiggy’s negative price-to-earnings ratio, based on FY24 and projected FY25 earnings.

However, SBI Securities counters that the IPO is “fairly priced” when compared to competitor Zomato. The brokerage, like Bajaj Broking, encourages investors to subscribe with a long-term perspective.

The IPO comprises a fresh issue of ₹4,499 crore and an offer for sale of 17.5 crore equity shares. The price band is set between ₹371 and ₹390 per equity share. Investors can bid for a minimum of 38 equity shares and in multiples of 38 thereafter.

Swiggy is expected to announce the basis of allotment on November 11th, with shares credited to successful bidders by November 12th. Listing on the BSE and NSE is scheduled for November 13th.

The IPO allocation is reserved for qualified institutional buyers (QIBs) at 75%, non-institutional bidders (NIBs) at 15%, and retail individual buyers (RIBs) at 10%.

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