Fri Nov 08 12:19:15 UTC 2024: ## Swiggy IPO Opens: GMP at 5%, Aims to Raise Rs 11,327 Crore

**Mumbai, November 7:** Food delivery giant Swiggy has opened its initial public offering (IPO) today, with a grey market premium (GMP) of 5%, or Rs 20. The subscription period will remain open until November 8. The company aims to raise a total of Rs 11,327 crore through the offering.

Swiggy will issue fresh shares worth Rs 4,499 crore, while existing investors will sell shares worth Rs 6,828 crore. The price band for the IPO has been set between Rs 371 and Rs 390 per share.

The IPO comes at a time when the Indian stock market is witnessing volatility, with investors closely watching macroeconomic factors. The company’s performance in the post-COVID world, particularly its ability to maintain growth and profitability, will be key to its success in the IPO.

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