Mon Nov 04 12:52:55 UTC 2024: ## Swiggy IPO Opens on November 6th: Investors Await Food-Tech Giant’s Listing

**New Delhi, November 5th, 2024:** The highly anticipated initial public offering (IPO) of food-tech giant Swiggy is set to open on Wednesday, November 6th, with shares priced between Rs 371-390 apiece. Investors can apply for the issue until Friday, November 8th.

Swiggy’s Rs 11,327.43 crore IPO comprises a fresh share sale of Rs 4,499 crore and an offer-for-sale (OFS) of up to 17.50 crore equity shares worth Rs 6,828.43 crore by existing shareholders. Retail investors have a 10% reservation, while eligible Swiggy employees can apply for 7.5 lakh shares.

The company, founded in 2014, offers a user-friendly platform for ordering food, groceries, and household goods through a single app, delivered through its on-demand network.

While the grey market premium (GMP) has taken a hit due to market volatility, currently standing at Rs 15 per share, analysts remain optimistic about the long-term potential of the quick commerce market, which is projected to grow at a CAGR of 148-169% between 2018 and 2023.

**Expert Opinions:**

* **SBI Securities** believes Swiggy is fairly priced compared to competitor Zomato and recommends a “subscribe for long-term” approach.
* **InCred Equities** highlights the significant investment needed to achieve profitability, advising investors to adopt a long-term perspective.
* **Arihant Capital** expresses concerns about Swiggy’s negative financial metrics and intense competition, suggesting a “subscribe for aggressive investors” stance.

Swiggy shares will be listed on both BSE and NSE on Wednesday, November 13th, with allotment expected by November 12th. The IPO represents both a significant opportunity and a challenge for Swiggy, as it seeks to navigate the highly competitive quick commerce market and achieve sustainable profitability.

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