Swiggy IPO Day 1 Live Update: Check out GMP, review, key dates, other details as issue opens today
₹371 to ₹390 from Wednesday, November 6 to Friday, November 8. The food delivery giant has attracted significant interest from institutional investors, collecting ₹5,085.02 crore through the anchor book launched on November 5.
The company aims to raise ₹11,327 crore from the IPO, which will include a fresh issue of shares valued at ₹4,499 crore alongside an offer for sale (OFS) of ₹6,828 crore.The secondary share involves exits or partial exits by venture capital firms Accel India, Tencent Cloud Europe, and Alpha Wave Ventures, with early investors having put in between ₹11.17 and ₹178.90 per share, based on their entry timing into the company, according to the disclosures provided.The company aims to use the proceeds from the new issue for investments in technology and cloud infrastructure; brand marketing and business promotion; repaying debt; as well as allocating funds for inorganic growth and general corporate purposes.Swiggy, established in 2014, reported a loss of ₹611 crore for the quarter that ended in June 2024, slightly increasing from ₹564 crore during the corresponding period a year ago.Stay tuned for review, subscription status, more.Tentatively, Swiggy IPO basis of allotment of shares will be finalised on Monday, November 11, and the company will initiate refunds on Tuesday, November 12, while the shares will be credited to the demat account of allottees on the same day following refund. Swiggy share price is likely to be listed on BSE and NSE on Wednesday, November 13.A day prior to its initial public offering, food delivery and quick-commerce giant Swiggy announced on Tuesday that it has raised ₹5,085 crore from anchor investors.
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