Swiggy IPO: GMP rises - Check last date to apply, allotment and listing dates

Swiggy IPO subscription update:  Swiggy ’s IPO opened for subscription today, 6 November 2024, aiming to raise Rs 11,327.43 crore. As the first day of subscription closed on Wednesday, the IPO reached 11 per cent or 0.11 times the subscription. 

Retail investors subscribed at 0.52 times, with employee participation at 0.7 times. Non-institutional investors (NIIs) showed limited interest at 0.05 times, and bids from qualified institutional buyers (QIBs) remained absent at the time of reporting.

Prior to the IPO, Swiggy raised Rs 5,085 crore from anchor investors by allotting 13.04 crore shares to 151 funds at Rs 390 per share.

Swiggy IPO GMP 

The company’s shares are trading at a Grey Market Premium (GMP) of Rs 11 in the unofficial market, indicating a modest 2.82 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.

Last date to apply, listing date

The subscription to the Swiggy IPO began on November 06 and will continue till November 08. Investors can apply for the Swiggy IPO only till the 03:30 pm on Friday. 

The shares of the food delivery major are expected to be listed on November 13. 

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. 

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.