Today is the last day to bid for the IPO of Swiggy, a company doing business including online food orders. The IPO of the Bengaluru-based company opened for bidding on November 6. The price band for the IPO is fixed at ₹371 to ₹390. The subscription of the IPO is closing on 8 November. According to Livemint news, the company has received a lot of interest from institutional investors. The company has raised ₹5,085.02 crore through anchor investors on November 5. Swiggy’s IPO includes a fresh offer of Rs 4,499 crore as well as an offer for sale (OFS) of 175,087,863 equity shares from the company’s selling shareholders.
swiggy ipo gmp today
According to InvestorGain.com, Swiggy IPO GMP is +2 today. This shows that the Swiggy share price was trading at a premium of ₹2 in the gray market. Considering the upper end of the IPO price band and the existing premium in the gray market, the estimated listing price of Swiggy share price is ₹392 per share, which is 0.51% higher than the IPO price of ₹390.
75% shares allotted for QIB
According to the news, Swiggy’s IPO has allotted 75% shares in the public offer to qualified institutional buyers (QIBs), with 15% reserved for non-institutional investors (NIIs) and 10% for retail investors. 7,50,000 equity shares have been earmarked for the employees. A discount of ₹25 per share is also available for eligible employees. The company’s only listed peer is Zomato Ltd, which has a price-earnings ratio of 634.50.
How much has been bid so far?
According to BSE data, the subscription rate of Swiggy IPO on the second day was 35%. Bids were received for 5,57,09,140 shares against 38,70,64,594 shares in the initial share sale. The retail investors category saw a subscription rate of 84%, while the share of non-institutional investors was subscribed at 14%. The portion reserved for qualified institutional buyers (QIBs) achieved 28% subscription. The employee allotment has been subscribed 1.15 times.
