The Swiggy IPO will list on NSE and BSE on November 13. The IPO opened on November 06 and closed on November 08. Swiggy raised Rs 11,327.43 crore via a combination of both fresh shares and an offer for sale. The issue has been subscribed 3.59 times but has seen a slight dip in investor interest quite like the Hyundai IPO closer to the listing date.
Here are 6 key things to know about the Swiggy IPO:
Swiggy IPO GMP
The company’s grey market premium dropped significantly to a mere rupee more than the issue price compared to commanding Rs 25 to the issue price on October 29. This drop in GMP can be attributed to volatility in Indian equity markets. However, Swiggy’s CFO has noted that the October volatility was factored into their pricing strategy, said Gaurav Garg, Research Analyst at Lemonn. The brokerage firm Bajaj Broking said, “We attribute annualized FY25 earnings to post-IPO fully diluted equity base, then the asking price is at a negative P/E, and based on FY24 earnings also it is at a negative P/E, as the company has posted losses for the reported periods. On other parameters, the issue appears aggressively priced.”
Swiggy IPO allotment
The IPO allotment will be finalised on November 11. The registrar of the issue, Link Intime India, acted as the registrar of the issue. The allotment status can be checked on the website of the registrar. You can also follow the step-by-step guide on Financial Express.com to understand the allotment process.
Swiggy IPO details
The IPO sold 11.54 crore fresh shares, which amounted to Rs 4,499 crore. Another component of the issue was an offer for sale of 17.51 crore shares which amounted to Rs 6,828.43 crore.
Swiggy IPO price band
The company kept the IPO price band in a range of Rs 371 to Rs 390 per equity share. The minimum lot size for a retail application was 38 Shares, which amounted to Rs 14,820. The minimum lot size investment for a small NII was 14 lots of 532 shares, amounting to Rs 2,07,480 and for a big NII was 68 lots of 2,584 shares, amounting to Rs 10,07,760.
Swiggy IPO risk
The food-delivery company has incurred net losses in each year since incorporation. It has negative cash flows from operations.
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