Zomato After this, the IPO of another food delivery app, Swiggy, is now approaching. Investors are eagerly awaiting this IPO. This is because Zomato’s IPO has delivered excellent returns to investors so far. Now Swiggy has fixed the price range of its IPO. According to the information received, the price band of Swiggy’s IPO has been set between ₹371 and ₹390 per share of face value of ₹1. Investors will be able to invest money in Swiggy IPO from November 6 to 8. The lot size of Swiggy’s IPO is 65 shares and thereafter, investors will be able to invest money in multiples of 65 shares. The latest GMP of Swiggy IPO is ₹25. With a price band of Rs 390, the estimated listing price of Swiggy IPO is Rs 415 (maximum price + current GMP).
Swiggy IPO: Allotment date and listing
- When will you receive the money: from November 6 to November 8
- Award: November 11
- Deposits and refunds in Demat accounts: November 12
- Listing on BSE and NSE: November 13
750,000 shares reserved for employees
Swiggy IPO has reserved at least 75% shares in the public issue for qualified institutional buyers (QIBs). Reserve no more than 15% for non-institutional institutional investors (NII) and no more than 10% for retail investors. 750,000 equity shares are reserved for employees. A discount of ₹25 per share is offered to eligible employees. Kotak Mahindra Capital Company Limited, JP Morgan India Private Limited, BofA Securities India Limited, Citigroup Global Markets India Private Limited, Jefferies India Private Limited, Avendus Capital Private Limited and ICICI Securities are the lead managers of the issue. Link Intime India Private Limited is the registrar.
When will the shares be awarded?
Shares may be allotted to successful investors in the IPO on November 11. At the same time, the company will initiate the redemption on Tuesday, November 12, while after the redemption the shares will be deposited in the demat account of the allottees on the same day. Swiggy share price is likely to list on BSE and NSE on Wednesday, November 13. Swiggy’s initial share sale worth Rs 11,327 crore includes a fresh issue of shares worth Rs 4,499 crore and an offer for sale (OFS) of 1,75,087,863 shares.
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