Swiggy IPO Mumbai/IBNS: India's leading food ordering and delivery company Swiggy on Wednesday (Nov. 6) launched its Rs 11,327.43 crore initial public offering (IPO), after raising Rs 5,085.02 crore from anchor investors the day prior.
The IPO bidding window will remain open until Friday (Nov. 8), and, according to Mint, the grey market premium was reported at Rs 11 on Wednesday.
The IPO is available for public subscription from Wednesday to Friday, with share allotments likely by November 11 and listing expected on November 13.
The price band for the IPO is set between Rs 371 and Rs 390 per share.
Swiggy aims to raise Rs 11,327.43 crore at the upper price band through a mix of a fresh issue of 11.54 crore equity shares totaling Rs 4,499 crore and an offer for sale (OFS) of 17.51 crore shares worth Rs 6,828.43 crore.
The minimum investment requires purchasing 38 shares, which amounts to Rs 14,820 at the maximum price.
For this IPO, 75 percent of shares are allocated for Qualified Institutional Bidders (QIB), 15 percent for Non-Institutional Investors (NII), and 10 percent for retail investors.
Additionally, 750,000 shares are reserved for employees at a Rs 25 discount from the issue price.
Lead managers for the IPO are Kotak Mahindra Capital Company, Citigroup Global Markets India, Jefferies India, Avendus Capital, JP Morgan India, BofA Securities, and ICICI Securities, with Link Intime India Private Ltd as the registrar.
The selling shareholders in the OFS include Accel India IV (Mauritius) Ltd, Apoletto Asia Ltd, Alpha Wave Ventures, LP, Coatue PE Asia XI LLC, DST EuroAsia V B.V, Elevation Capital V Ltd, Inspired Elite Investments Ltd, MIH India Food Holdings B.V, Norwest Venture Partners VII-A Mauritius, and Tencent Cloud Europe B.V.
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