Swiggy IPO GMP: The initial public offering of online food delivery app Swiggy will open for subscription tomorrow i.e. Wednesday, November 6, and will close on Friday, November 8. Swiggy wants to raise a total of Rs 11,327.43 crore from this IPO. This online food ordering and delivery company will issue 11,53,58,974 new shares worth Rs 4,499 crore under its initial public offering. While the promoters of the company will issue 17,50,87,863 million shares worth Rs 6828.43 crore through OFS.
Retail investors will get 38 shares in one lot
The company has set the price band of Rs 371 to Rs 390 for each share with face value of Re 1 in this IPO. Swiggy employees will receive a discount of Rs 25 for each share. Retail investors applying for the IPO will have to invest at least Rs 14,820, in which they will be given 38 shares in one lot. This is a primary IPO, which will be listed on the major Indian stock market exchanges, BSE and NSE.
The IPO will go public on November 13
Swiggy has reserved 75 per cent quota for QIBs, 10 per cent for retail investors and 15 per cent for NIIs in its IPO. The share allotment will take place on Monday, November 11 after the IPO closes on November 8. The shares will be credited to the demat accounts of the investors on the next day i.e. Tuesday, November 12. Finally, on Wednesday, November 13, the IPO will be listed on the stock exchange.
What is the status of the gray market premium?
There are now only a few hours left for Swiggy’s IPO to open, but there is still no significant reaction to the company’s stock in the gray market. According to websites that monitor share premium in the gray market, on Tuesday, November 5, the GMP price of the company’s shares was Rs 7 (1.79 percent). But it is believed that the GMP price of Swiggy shares may go up or down depending on the subscription.
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