This year, issues from large companies have arrived one after another in the Indian IPO market. Many of them have provided enormous benefits to investors. However, some landslides were also observed. Now online food delivery platform Swiggy’s name will also be added to the list of big IPOs of 2024. The company’s initial public offering opens for subscription tomorrow i.e. Wednesday and all the details related to the issue. You can secure your share of Swiggy profits by investing just Rs 14820. Let us know how?
You can invest money until November 8.
The initial public offering of online food delivery platform Swiggy will open on November 6, i.e. tomorrow. If you haven’t invested in IPOs until now, this is a great opportunity. From Amitabh Bachchan to Madhuri Dixit, many celebrities have invested money in this company. Money can be invested in the company’s issue for three days, that is, until November 8. Through this issue, Swiggy will issue 29,04,46,837 shares with a face value of Re 1 and accordingly the IPO size of the company will be Rs 11,327.43 crore.
This is the stock’s price band.
Under the IPO, the company will issue 115,358,974 new shares worth Rs 4,499 crore, while 175,087,863 shares worth Rs 6,828.43 crore will be put up for sale through Offer for Sale ( OFS). Talking about Swiggy’s IPO price band, the company has set it at Rs 371-390 per share. The company has also given a special discount to its employees for investing in IPO and they will get a discount of Rs 25 for each share.
How to become a participant in the profits?
Now let’s talk about how you can become a shareholder of Swiggy profits by investing less than Rs 15,000. Its calculation is very simple. Actually, Swiggy has fixed the lot size of 38 shares for the issue, which means any investor will have to bid for at least that many shares. Now if we calculate according to the upper price band, the total investment amount for so many shares will be Rs 14,820. After this, if the company’s shares trade with profits after the launch of its IPO, then your share in these profits will also be assured.
When will the listing take place?
After the closure of Swiggy’s IPO, the IPO allotment process will begin on November 11 and the process of crediting shares into investors’ demat accounts will take place on November 12. Subsequently, the company’s share listing will take place on November 13. Let us tell you that Swiggy shares will be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). Talking about the performance of this IPO in the gray market, the company’s shares were trading at a premium of Rs 7 as at 2 pm on Tuesday. If we look at it accordingly, its possible price could be Rs 397.
(Note: Before making any kind of investment in the stock market or IPO market, definitely consult your market experts.)
