Swiggy IPO opened for subscription today, November 6, 2024. The IPO targets ₹11,327.43 crore through a combination of fresh issue worth ₹4,499 crore and offer for sale of 17.51 crore shares worth ₹6,828.43 crore.
As at 3.45 pm on day 1, the IPO was subscribed 11 per cent or 0.11 times. Retail investors subscribed 0.51 times and employee portion subscribed 0.69 times. NIIs remained lukewarm at 0.05 times while QIBs’ bids were nil at the time of writing.
The IPO closes on November 8, 2024.
Ahead of the IPO process, Swiggy mobilised ₹5,085 crore from anchor investors by allotting 13.04 crore shares to 151 funds at ₹390.
“Out of the total allocation of 13,03,85,211 equity shares to the anchor investors, 5,30,07,554 equity shares (i.e., 40.65 per cent of the total allocation) were allocated to 19 domestic mutual funds, which have applied through a total of 69 schemes,” the online food delivery platform said in its exchange disclosure on November 5, 2024.
New World Fund Inc, Government Pension Fund Global, Nomura Funds Ireland Public Limited Company, Fidelity Funds, BlackRock, Allianz Global Investors Fund and Schroder International were top anchor investors.
In addition, domestic fund houses such as ICICI Prudential Mutual Fund (MF), SBI Mutual Fund, HDFC Life Insurance Company, SBI Life Insurance and ICICI Prudential Life Insurance Company were also allotted shares in the anchor round.
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.