The initial public offering (IPO) of Swiggy Limited, an e-commerce platform opened for registration on November 6, 2024. The bidding process lasts for three days with the issue closing for bids on November 8, 2024. The IPO issue size is Rs. 11,327.43 crore with a total pn value of 290,446,837 shares. The company has set a price band between Rs 371 and Rs 390.
At last count (11:27 AM) the company received a total of 9,95,21,126 bids against 16,01,09,703 shares or 62 percent, according to BSE data. Non-institutional investors (NIIs) subscribed 0.18 times the share available to them, while retail individual investors (RIIs) applied for 0.94 times the total number of shares offered to them. Meanwhile, qualified institutional buyers (QIBs) registered 0.73 times.
Why did Swiggy raise Rs 11,327.43 crore?
Swiggy’s Rs 11,327.43 IPO consists of a sale offering of Rs 6,828 crore by selling shareholders. And some money from investors goes like this:
- R165 million: Repayment or prepayment of Scootsy subsidiary loans
- 1,179 million: Expansion of black shops
- R703 million: Investment in technology and cloud infrastructure
- 1,115 million: Product marketing, promotional costs, and general business purposes
Why do critics praise it for so long?
Analysts at Geojit Financial have given a ‘subscription’ rating for the long-term investment outlook due to strong product recall, diversified offering, integrated operating system, rapid scaling, consistent innovation, black market expansion, and promising sector outlook.
Analysts at SBI Securities also recommend applying for it and holding it for the long term. At the time, they also highlighted some important risks for the company such as the risk of the user base, the retention of delivery partners, the restaurants that store them, the merchant and product partners, the black store network, and technology.
Another domestic brokerage, MOFSL revealed that it has recommended that only ‘high-risk individuals’ apply for the Swiggy IPO in the long-term horizon.
Swiggy IPO: Key details; date of listing and allotment, registrar, BRLMs
Here are some details of Swiggy IPO including stock date, allotment date, and legal registrar:
What is the Swiggy IPO allotment date?
The offer date of Swiggy IPO is November 11, 2024, indicating that applicants can check their status on November 12, 2024.
Who is the official registrar of Swiggy IPO?
The official registrar of Swiggy IPO is Link Intime India Pvt Ltd, and people can know their status through this URL. ‘linkintime.co.in/initial_offer/public-issues.html’
