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Swiggy IPO Closes Today; Check Price, GMP, All Details Here

The Initial Public Offering (IPO) of the food aggregator platform Swiggy will close today ending its three-day subscription period. The company is eyeing to raise Rs 11,327.43 crore, which includes a combination of fresh issue and offer for sale (OFS).

Swiggy IPO Closes Today; Check Price, GMP, All Details Here

Swiggy IPO Closes Today; Check Price, GMP, All Details Here
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8 Nov 2024 11:26 AM IST

The Initial Public Offering (IPO) of the food aggregator platform Swiggy will close today ending its three-day subscription period.

The company is eyeing to raise Rs 11,327.43 crore, which includes a combination of fresh issue and offer for sale (OFS). The fresh issue comprises 115,358,974 shares, while OFS consists of 175,087,863 shares. Receiving a muted response from investors, the shares were subscribed by 0.35 times at the end of the second day, NSE data reported. While Retail Individual Investors (RIIs) and Qualified Institutional Buyers (QIBs) subscribed by 0.84 times and 0.28 times, subscriptions by Non-Institutional Investors (NIIs) stood at 0.14 times. Employee quota remained fully subscribed at 1.15 times.

With a lot size of 38 shares, the price band has been capped between Rs 371-390 for the IPO. This will facilitate investors to place bids for at least 38 shares in multiples thereof.

GMP Price

The grey market premium (GMP) of Swiggy declined sharply today. As per the sources, shares were trading at a premium of Rs 2, a GMP of 0.51% as compared to upper price band of Rs 390 on Friday (today). Notably, this a drop from Monday (November 6) when the shares reported a GMP of Rs 9.50.

As the subscription window closes today, the allotment of the shares will be finalised by Monday, November 11. Shares will be credited to the investors’ demat account by Tuesday, November 12. The company is set to get listed on the stock exchanges on November 13 (Wednesday).

About the company

Founded in 2014, Swiggy is an online platform that facilitates users to search, select, order, and pay for food (Food Delivery), groceries, and household goods (Instamart). The food aggregator is backed by SoftBank, Prosus, and Accel Partners.

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