The IPO of Swiggy Ltd, the food-delivery service provider, received a healthy investor response with 3.59x times subscription on November 8, 2024, the final subscription day.
The Bengaluru-based online food and grocery delivery company is raising Rs 11327.43 crore and plans to use the Net Proceeds for several purposes, including repaying or prepaying borrowings of its subsidiary Scootsy, expanding its Dark Store network for Quick Commerce, investing in technology and cloud infrastructure, funding brand marketing and business promotion, and supporting inorganic growth through potential acquisitions and general corporate needs, as per the company’s prospectus.
Official data from the exchanges shows that the subscription status for the Swiggy Ltd IPO at 5 PM stands as follows:
| Segment | Issue Portion(number of shares) | Subscription Received(number of shares) | Subscription Status |
| Retail Investors | 2,89,74, 491 | 3,30,78,506 | 1.14x |
| Non-Institutional Investors (NIIs) | 4,34,61,737 | 1,79,01,610 | 0.41x |
| Qualified Institutional Buyers (QIBs) | 8,69,23,475 | 52,30,89,494 | 6.02x |
| Employee Reserved | 7,50,000 | 12,37,204 | 1.65x |
| Total | 16,01,09,703 | 57,53,06,016 | 3.59x |
1. Swiggy IPO date: The issue opened for subscription on Wednesday, November 6, 2024, and concluded on Friday, November 8, 2024.
2. Swiggy IPO Price: The price band of the public issue has been fixed at ₹371 to ₹390 per equity share.
3. Swiggy IPO Size: The company aims to raise ₹11327.43 crore through the IPO, which is a fresh issue of 11.54 crore shares amounting to Rs 4,499 crores and Offer for Sale of 17.51 crore shares aggregating to Rs 6,828.43 crore.
4. Swiggy IPO Lot Size: The IPO lot size is fixed at 38 shares, requiring a minimum investment of ₹14820 for retail investors.
5. Swiggy IPO reservation: The IPO offers 8,69,23,475 lakh shares to qualified institutional buyers (QIBs), 4,34,61,737 lakh shares to non-institutional investors (NIIs), and 2,89,74, 491 lakh shares to retail investors.
6. Swiggy IPO allotment date: Swiggy IPO allotment date is set for Monday, November 11, 2024. Investors who receive an allotment will see the shares in their demat accounts by Tuesday, November 12, 2024, while those who do not will have their refunds processed on the same day.
7. Swiggy IPO listing: The Mainstream IPO is proposed for listing on the NSE and BSE on Wednesday, November 13, 2024.
8. Swiggy IPO book-running lead manager and registrar: Kotak Mahindra Capital Company Limited, Citigroup Global Markets India Private Limited, Jefferies India Private Limited, Avendus Capital Pvt Ltd, J.P. Morgan India Private Limited, BofA Securities India Limited and ICICI Securities Limited are the book-running lead managers of the Swiggy IPO, while Link Intime India Private Ltd is the registrar for the issue.
The Swiggy IPO has been a much anticipated IPO in the Indian stock market. Investors who have subscribed to the IPO will get the intimation of allotment on November 11, 2024. The ones who get the shares allotted to their Demat account will see the shares listed on November 13, 2024.
Also read: Does applying more lots in an IPO increase your chances?
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