Swiggy Launches IPO Today After Securing ₹5,085.02 Crore from Anchor Investors

Swiggy’s much-anticipated initial public offering (IPO), valued at ₹11,327.43 crore, entered the markets on Wednesday, November 6, following a successful pre-IPO round that raised ₹5,085.02 crore from anchor investors on Tuesday. Investors will have until Friday, November 8, 2024, to participate in the IPO. As per Mint, Swiggy’s grey market premium stood at ₹11 on Wednesday, reflecting strong investor interest.

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Key IPO Dates and Price Band

The Swiggy IPO is open to the public from November 6 to November 8. Following the bidding period, the allotment date is anticipated to be November 11, with shares likely to be listed on November 13. The price band for the IPO is set between ₹371 and ₹390 per share, with the potential to raise a total of ₹11,327.43 crore at the upper limit.

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Structure and Investment Allocation

The offering includes a fresh issue of 11.54 crore equity shares, expected to bring in ₹4,499 crore. Alongside an offer for sale (OFS) of 17.51 crore shares, amounting to ₹6,828.43 crore. Qualified Institutional Buyers (QIBs) are allocated 75% of the shares, Non-Institutional Investors (NIIs) 15%, and retail investors 10%. The minimum lot size is 38 shares, requiring a minimum investment of ₹14,820 at the upper price band. Employees are offered 750,000 shares at a ₹25 discount per share.

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Lead Managers and Key Investors

Kotak Mahindra Capital Company, Citigroup Global Markets India, Jefferies India, Avendus Capital, JP Morgan India, BofA Securities, and ICICI Securities are the lead managers overseeing the IPO. Link Intime India Private Ltd serves as the registrar. Notable investors participating in the OFS include Accel India IV (Mauritius) Ltd, Apoletto Asia Ltd, Alpha Wave Ventures, LP, and Tencent Cloud Europe B.V., among others, underscoring Swiggy’s broad backing by high-profile global investors.

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