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Swiggy Stocks Today, Swiggy IPO Listing Live November 13, 2024: Swiggy stock is all set for market debut today. The IPO was oversubscribed by 3.59 times. The ₹11,300-crore IPO comprised fresh capital raise of ₹4,499 crore and an offer for sale (OFS) of 17.51 shares worth ₹6,828 crore. Swiggy IPO price band was set at ₹371-390 per share.
Swiggy’s stock market debut: Will it deliver listing gains?
Shares of food delivery and grocery major Swiggy will be listed at the bourses today. The company has fixed the IPO price as Rs 370, at the upper end of the price band ₹371-390.
The issue, which struggled on the first two days, sailed through with an oversubscription of 3.60 times, thanks to QIB investors. Given the faltering of large IPOs such as LIC and Hyundai India, marketmen expect only a muted listing from Swiggy.
The qualified institutional buyers (QIBs) portion was booked 6.02 times—the highest, and the retail investor’s portion was subscribed 1.14 times. The employees’ book was subscribed 1.65 times. However, wealthy individual investors (NIIs) remain lukewarm to the issue as the portion reserved for them remained undersubscribed at 0.41 times.
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- November 13, 2024 09:14
Swiggy IPO subscribed 3.59x led by QIBs, employees
Food delivery and grocery major Swiggy’s initial public offering has been oversubscribed by 3.59 times after a tepid response in the first two days.
The qualified institutional buyers (QIBs) portion was booked 6.02 times — the highest, NII portion was booked 41 per cent and the retail investor’s portion was subscribed 1.14 times. The employees’ book was subscribed 1.65 times.
The ₹11,300-crore IPO comprises fresh capital raise of ₹4,499 crore and an offer for sale (OFS) of 17.51 shares worth ₹6,828 crore. Swiggy IPO price band has been set at ₹371-390 per share.
The food delivery giant has raised ₹5,085 crore from institutional investors, including Fidelity and Blackrock, with sizeable participation from domestic investors.