Swiggy IPO was subscribed 7% times as of 1230 IST on November 06, 2024. The IPO received bids worth Rs 455 crore. The retail investors booked the issue 35%, bidding for worth Rs 390 crore. The NIIs subscribed to the issue 0.03 times.
Swiggy IPO GMP
The stock of the food-delivery company was fetching a premium of 3% in the grey market, indicating lacklustre listing gains. It is an unofficial place where shares trade illegally ahead of listing. Market participants keep an eye on GMP to track listing gains.
Swiggy IPO Details
The SoftBank-backed company opened its IPO on November 06. It will close on November 08. The price band for the IPO was set between Rs 371 and Rs 390 per share, with a lot size fixed at 38 shares. Retail buyers can apply for at least one lot, which consists of 38 shares, or in multiples of 38 shares.
Also Read Swiggy IPO all set to launch on November 06: Here are 6 key risks to watch out for Swiggy IPO opens on November 06: Here are 10 things to know, including price band, issue price, GMP, IPO allotment, listing date NSE reports 57 per cent jump in September quarter profit to Rs 3,137 crore Public investors turn angels for startups
Motilal Oswal Financial Services’ take on Swiggy IPO
“Swiggy has successfully pioneered the hyperlocal commerce industry in India, launching Food Delivery in 2014 and Quick Commerce in 2020, and is well-recognised as a leader in innovation,” said the brokerage house Motilal Oswal Financial Services. Currently, Swiggy is the second largest player in India in both categories, which are large addressable markets, witnessing rapid online penetration and are relatively nascent with high growth headroom. Food delivery and Quick commerce are expected to grow at a CAGR of 17-22% and 60-80% respectively over CY23-28.
Also ReadCatch all the live updates on Swiggy IPO on our live feed
“Swiggy operates in an oligopoly market which is at a nascent stage, thus providing enough opportunities for players to create their niche. Swiggy’s innovation DNA is key to success and it could again be at the forefront through its new 10-minute food delivery offering. However, given that the company is still loss-making at an aggregate level,
» Read More
