Tue Nov 05 10:08:22 UTC 2024: ## Swiggy IPO: Food Delivery Giant Set to Raise Over ₹11,000 Crore

**New Delhi, India:** Food and grocery delivery platform Swiggy is set to launch its initial public offering (IPO) on Dalal Street on November 6th, aiming to raise over ₹11,000 crore. The IPO, which will remain open until November 8th, will see the company offer a combination of fresh equity shares and an offer for sale (OFS) of existing shares.

Swiggy, known for its food delivery services, has expanded its offerings to include quick commerce (Instamart), restaurant reservations (Dineout), event bookings (SteppinOut), and pick-up/drop-off services (Genie).

**Key Highlights of the Swiggy IPO:**

* **IPO Price Band:** ₹371 to ₹390 per share.
* **IPO Size:** ₹11,327.43 crore at the upper end of the price band.
* **Lot Size:** 38 shares, with a minimum investment of ₹14,820 for retail investors.
* **IPO Objectives:** Funding for Scootsy subsidiary, technology & cloud infrastructure, brand marketing, and potential acquisitions.
* **Reservation:** 75% for Qualified Institutional Bidders (QIBs), 15% for Non-Institutional Investors (NIIs), and 10% for retail investors.
* **Grey Market Premium:** Currently ₹20 per share, indicating a 5.13% premium over the issue price.

**Brokerage Opinions:**

Opinions on the IPO remain mixed. While some analysts express concerns over the company’s ongoing losses, others are optimistic about Swiggy’s future growth potential in the online food delivery and quick commerce markets.

**Financial Performance:**

Swiggy has reported losses for the past three fiscal years. In FY24, the company reported a net loss of ₹2,350.24 crore and revenue of ₹11,634.35 crore.

**Disclaimer:** This news article is for informational purposes only and does not constitute investment advice. Investors are advised to consult with certified experts before making any investment decisions.

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