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Swiggy IPO – Everything announced about Swiggy IPO… It will open on November 6, know the price of a share! – Swiggy IPO opening in November price band and other details Here see what investors need to know tutc

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Swiggy IPO – Everything announced about Swiggy IPO… It will open on November 6, know the price of a share! – Swiggy IPO opening in November price band and other details Here see what investors need to know tutc

The year 2024 is turning out to be fantastic for the IPO market. One after another, issues from large companies are hitting the market and many of them have proven to be profitable deals for investors. Recently, automobile giant Hyundai Motors India launched the country’s largest IPO (India’s largest IPO), breaking LIC’s record. Now, the name of online food delivery platform Swiggy will also be added to the list of big problems. Swiggy’s IPO will open on November 6 and details from its price range to lot size have been revealed.

Swiggy’s IPO will be this big
There is good news for investors who have been waiting for Swiggy’s IPO for a long time. The company will launch its IPO in early November. Swiggy’s IPO will open on November 6 and investors will have the opportunity to invest money until November 8. After closing, BSE and NSE listing may take place on November 13. The food delivery platform is gearing up to raise Rs 11.3 billion through its IPO. The company will reportedly sell shares worth Rs 6.8 billion through OFS during its issuance, while new shares worth Rs 4.5 billion will be issued.

These are the details of the price band.
The company has also fixed the price band for its Rs 11.3 billion initial public offering, which is Rs 371 to Rs 390 per share. After this IPO, Swiggy India’s valuation may reach $11.2 billion. We told you that the company had previously estimated the valuation of the IPO at $15 billion. According to the report, existing shareholders will sell 17.5 million shares through Offer for Sale (OFS). In this, 75% stake has been reserved for QIB, 15% for NII and 10% stake has been reserved for retail investors.

These big investors may be involved
BlackRock and the Canada Pension Plan Investment Board (CPPIB) are expected to be among the list of major investors that may participate. This makes Swiggy’s IPO one of the biggest public issues this year. Before this, Zomato, a big company in the online food delivery sector, also launched its IPO. Zomato’s IPO hit the stock market in the year 2021.

The IPO was approved in September
Notably, Swiggy had submitted documents to market regulator SEBI earlier this year to file its IPO. Following this, in the month of September 2024, SEBI gave Swiggy approval to launch an initial public offering (IPO). The special thing is that the food delivery company presented the red audience prospectus project not once but twice. Let us tell you here that Swiggy is a major player in the food delivery sector in India.

(Note: Before making any kind of investment in the stock market or IPO market, definitely consult your market experts.)

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