Swiggy fixes IPO price band at Rs 371-390 per share, Rs 11,300 crore IPO to open from November 6
IPO) at Rs 371-390 per equity share of the face value of Re 1, according to an announcement by the Bengaluru-based Food and grocery delivery company on Wednesday.
The IPO will be open for subscription from November 6-8.
ET had reported on Monday that Swiggy would issue shares within this price range. At the upper end, the company’s valuation would reach $11.3 billion.
On Wednesday, the company’s managing director and chief executive Sriharsha Majety said at a press conference in Mumbai that the underlying rails of all of Swiggy’s businesses including food delivery, quick commerce, dining out and events were functioning at a healthy pace.
“It is the beginning of the restaurant ecosystem in India if we look at it over a longer time frame. This means that we are really early compared to any other country in the world with respect to the discretionary income expansion and the participation of the restaurant industry in that,” Majety said.
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