Swiggy IPO opens today: Check GMP, subscription rate, last date to apply

Swiggy IPO opens today: The Initial Public Offering ( IPO ) of food delivery major Swiggy has opened today on November 6 with the startup planning to raise more than Rs 11,000 crore. 

Domestic stock markets which are facing strong volatility ahead of US Presidential Elections 2024, is looking forward to a successful public issue for Zomato ’s key competitor in the market. 

Here are some of the key details you need to know before you apply for the Swiggy IPO today: 

Swiggy IPO GMP 

The company’s shares are trading at a Grey Market Premium (GMP) of Rs 12 in the unofficial market, indicating a modest 3 per cent premium over the issue price.

The Swiggy IPO points to a market capitalisation of Rs 87,299 crore, valuing the company at 7.7 times its annualised FY24 revenue. In comparison, Zomato is currently valued at a 17 times revenue multiple.

Swiggy IPO size 

The food delivery platform is raising Rs 11,327.43 crore with the issue consisting of 11.54 crore shares that amount to Rs 4,499.00 crore and an offer for sale of 17.51 crore shares worth Rs 6,828.42 crores. 

Swiggy IPO lot size and minimum investment 

To subscribe to one lot of the Swiggy IPO, retail investors will have to spend Rs Rs 14,820 whereas the minimum subscription amount for the sNII is 14 lots (532 shares) which amounts to Rs 2,07,480. For bNII the minimum lot size is 68 (2,584 shares), amounting to Rs 1,007,760.

The issue also includes a reservation of up to 750,000 shares for employees at a discount of Rs 25 to the issue price.

Swiggy IPO price band

For the IPO, the price band for a share is set at Rs 371 to Rs 390 per share. 

Swiggy IPO dates 

Prominent investors in Swiggy

Here are some of the top names who have invested in Swiggy: 

• Amitabh Bachchan 
• Rahul Dravid
• Zaheer Khan
• Rohan Bopanna 
• Karan Johar 
• Ashish Chowdhry
• Raamdeo Agrawal
• Madhuri Dixit
• Ritesh Malik

The startup which emerged as the second most popular food delivery platform has expanded its operations to quick commerce and grocery with Instamart and out-of-house consumption for restaurant reservations with Dineout.

The company has also launched SteppinOut as a ticketing platform for event bookings along with Genie which offers pickup/drop-off services for products.