Go to Live Updates
The much-awaited Swiggy IPO opens for bidding on November 06. The company aims to raise Rs 11,327.43 crore via a combination of the sale of fresh shares and an offer for sale. The IPO closes on November 08. The IPO price band is between Rs 371 – 390 per equity share. The share allotment of Swiggy IPO is likely to be finalised on November 11.
The company has reserved 750,000 shares for employees, which will be offered at a discount of Rs 25 from the issue price. Kotak Mahindra Capital Company, Citigroup Global Markets India, Jefferies India, Avendus Capital, J.P. Morgan India, BoFA Securities India, and ICICI Securities are the book-running lead managers of the IPO.
Also ReadSwiggy IPO all set to launch on November 06: Here are 6 key risks to watch out for
Aditya Birla Money said in a research report that while Swiggy’s decision to lower its valuation leaves some upside room for the investors, the brokerage house still recommends an “Avoid” to this issue due to the “reported negative” cash flows and ongoing losses, alongside a slightly high valuation of 7.7x FY24 price-to-sales.
Also Read Swiggy IPO to open on November 06: 6 things you need to know including price band, issue details, proceeds, listing day Afcons Infrastructure IPO 2024 Highlights: Check GMP, IPO allotment, listing, date and other details Waaree Energies IPO allotment to get fixed today: Check allotment status step-by-step Waaree Energies IPO GMP soars over 100%: Check issue price, allotment status, listing date and more
l
?
Live Updates 12:20 (IST) 5 Nov 2024 Swiggy IPO live updates: Key risks to Swiggy IPO
Cutthroat competition with few players in the market. The Qcom. (Instamart) business is a cash burning business with negative CFO. The company slashed its valuations prior to the IPO from $15 bn to $11.3 billion. FMCG distributors have raised concerns with the CCI about the sustainability and unfair practices of Qcom, which could hinder growth if action is taken.
11:43 (IST) 5 Nov 2024 Swiggy IPO live updates: GMP update
The shares of Swiggy were commanding a premium of 5% in the grey market,
» Read More
