Swiggy sets price band at Rs 371-390 for Rs 11,327 crore IPO. Check details
Swiggy announced the price band for its upcoming Rs 11,327.43 crore IPO as Rs 371-390 apiece.
The issue comprises a fresh issue of shares amounting to Rs 4,499 crore with an offer for sale (OFS) for 17,50,87,963 equity shares. At the upper end of the price band, the OFS component stands worth Rs 6,828.43 crore.
As part of the OFS, Accel India IV (Mauritius), Apoletto Asia, Alpha wave Ventures, Coatue PE Asia, DST EuroAsia V, Elevation Capital V, Inspired Elite Investments, MIH India Food Holdings, Norwest Venture Partners VII-A-Mauritius and Tencent Cloud Europe will be offloading their stakes in the company.
Under the offering, investors can bid for a minimum of 38 shares in 1 lot and in multiples of 38 thereof.
According to reports, the IPO was reduced due to prevailing market volatility and the lacklustre debut of Hyundai India. Swiggy’s last private round valuation was $10.7 billion when it raised $700 million in a round led by US asset manager Invesco in January 2022.
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