Swiggy IPO Hits Markets, Raises ₹5,085 Crore from Anchor Investors
Food delivery giant Swiggy launched its ₹11,327.43 crore IPO on Wednesday, November 6, after securing ₹5,085.02 crore from anchor investors a day prior. The IPO bidding window remains open until Friday, November 8, 2024, with a grey market premium of ₹11 per share reported on opening day.
Swiggy has set a price band of ₹371-₹390 per share and plans to raise the funds through a mix of fresh equity and an offer for sale (OFS) by major investors. The IPO allocates 75% of shares to Qualified Institutional Buyers, 15% to Non-Institutional Investors, and 10% to retail investors. Employees are also allotted 750,000 shares at a ₹25 discount. Leading firms such as Kotak Mahindra Capital, Citigroup, Jefferies India, and others are managing the offering. The allotment is expected by November 11, with a listing anticipated on November 13.
