Online food delivery company Swiggy’s Rs 11,327.43 crore IPO opened for subscription today. Bidding can be done in this IPO till November 8 and Swiggy’s anchor book opened yesterday on November 5, in which the company has raised more than Rs 5,085.02 crore from 151 anchor investors.
Swiggy’s IPO is the second largest IPO of this year. Earlier, Hyundai Motor had made a record of launching the biggest IPO ever in the history of the domestic stock market by bringing an IPO of Rs 27,870 crore. With the launch of Swiggy’s IPO, its deal has also started in the gray market.
In the gray market, bidding is being done on the upper price band of the IPO of Rs 390 with a premium of Rs 12 i.e. 3.08 . Earlier yesterday, Swiggy’s anchor book opened, through which the company has raised Rs 50,85,02,32,290 from 151 anchor investors.
A total of 13,03,85,211 shares have been issued to anchor investors at a price of Rs 390. Of the shares issued to anchor investors, 40.65 percent of the shares have been issued for 69 schemes of 19 domestic mutual funds. After opening for subscription today, investors can apply for this IPO till November 8. The price band for this IPO of Rs 11,327.43 crore has been fixed at Rs 371 to Rs 390, while the lot size is 38 shares.
In this IPO, 75 percent of the share is reserved for Qualified Institutional Buyers (QIB), while 15 percent is reserved for Non Institutional Investors (NII) and 10 percent is reserved for retail investors. In this IPO, the company is offering a discount of Rs 25 per share to its employees. The company’s shares will be allotted to investors on November 11, while the company’s shares will be listed on BSE and NSE on November 13. New shares worth Rs 4,499 crore are being issued under the IPO, while 17,50,87,863 shares with a face value of Rs 10 will be sold under the Offer for Sale window.
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