Swiggy IPO is coming soon. Many big shots have their money invested in this company. Which includes everyone from cricketers to Bollywood actors. That they have already purchased a substantial stake in this company. After the IPO of this company, many giants can make a lot of money. According to a report, the online food delivery market is expected to grow at a rate of 20 percent during calendar year 23-28. Whose CAGR is expected to be 8 to 10 percent. According to the report, the top fast-trade category will continue to be food with a share of 60 percent. However, express trade, which accounts for only 0.3 per cent of the Indian retail market, can increase its share by 2-3 per cent, with a growth rate of 60-80 per cent. Let us also tell you which giants can make huge profits from this IPO.
These giants have invested
Before the IPO, Swiggy shares were actively traded in the over-the-counter market. In which cricketers Rahul Dravid and Zaheer Khan, tennis star Rohan Bopanna, studio owner Karan Johar and actor-businessman Ashish Chaudhary had bought stakes in the company. Apart from this, Swiggy also received investments from Bollywood icons like Madhuri Dixit, Amitabh Bachchan bought some shares in the company’s pre-IPO round through the secondary market. Apart from this, Dalal Street and Motilal Oswal Financial Services veteran Ramdev Agarwal has also acquired stake in Swiggy.
Swiggy IPO Special Features
- According to a report by ET, Swiggy also received good response from institutional investors for its $600 million anchor book.
- The special thing is that the issue of this category was subscribed 25 times more and offers worth 15 billion dollars were received.
- Major investors vying for the IPO include global investment firms Fidelity, Capital Group and Norges Bank Investment Management.
- Swiggy’s IPO is scheduled for November 6 and investors can bid for shares until November 8.
- The company has kept the IPO price between Rs 371 and Rs 390 per share. The company has increased its fresh sale of shares in IPO to Rs 4,499 crore.
- OFS’s size has been reduced to 17.5 million shares. Swiggy is preparing an IPO at a lower valuation of $11.3 billion compared to its earlier target of around $15 billion.
- The valuation has been reduced due to the current market volatility and Hyundai India’s disappointing start.
- The food delivery company will use the proceeds from the IPO to invest in its Scootsi materials subsidiary, invest in cloud technology and infrastructure, and for brand marketing and trade promotion. This will be done over a period of four to five years.
