Tue Nov 12 15:05:53 UTC 2024: ## Swiggy IPO Subscribed 3.59 Times, Set to List on November 13th

**Bengaluru, India** – Swiggy, the popular food delivery and quick commerce platform, has successfully completed its initial public offering (IPO), with the issue getting subscribed 3.59 times overall. The IPO, which opened on November 6th and closed on November 8th, saw strong demand from Qualified Institutional Buyers (QIBs) who subscribed 6.02 times.

While the retail portion was subscribed only 1.14 times, the overall subscription was driven by strong institutional investor interest. The IPO had an employee reservation of 750,000 shares offered at a discount to the issue price.

Swiggy operates in several segments, including food delivery, out-of-home consumption, quick commerce, supply chain and distribution, and platform innovations. The company plans to use a significant portion of the IPO proceeds to expand its quick commerce business, which has seen significant growth in recent years.

**Analysts’ Views:**

* **Anand Rathi** believes Swiggy is fairly priced, considering its growth potential in quick commerce and its strong financial position.
* **Choice Broking** acknowledges Swiggy’s robust growth but is cautiously optimistic about its profitability due to ongoing losses.
* **KRChoksey Research** highlights Swiggy’s strong user base and its focus on expanding its network of dark stores to improve user engagement and operational efficiency.
* **Aditya Birla Money Ltd** points out the intense competition in the online food delivery and quick commerce markets but believes Swiggy’s expansion into new verticals like event bookings could drive future growth.
* **Motilal Oswal Financial Services** praises Swiggy’s integrated app approach and its ability to innovate quickly.
* **SBI Capital Services** sees potential in Swiggy’s growth but is concerned about its current negative financial metrics and recommends the IPO for aggressive investors only.
* **InCred Equities** believes Swiggy’s scale and long-term opportunities in quick commerce provide attractive growth potential. They also note the company’s potential for improved margins and cash flow from its food delivery vertical.

**Grey Market Premium:**

The shares of Swiggy were trading at a premium of 0.26% in the grey market, indicating a lacklustre listing for the company.

**Listing Date:**

Swiggy is scheduled to list on the bourses on November 13th.

**Overall, Swiggy’s IPO received a mixed response from analysts, with some expressing cautious optimism and others highlighting the company’s potential for long-term growth. The company’s success in the highly competitive online food delivery and quick commerce markets will depend on its ability to maintain its market share, improve profitability, and continue to innovate.**

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