Swiggy IPO Launch On November 6: Offer Size, Price Band, Key Dates

The initial public offering (IPO) of online food delivery giant Swiggy will open for subscription on Wednesday, November 6. The three-day bidding period will end on November 8.

Here's a look at all key details about the much awaited mainboard issue ahead of its launch:

Swiggy IPO offer size

The Swiggy IPO is a book-building issue worth Rs 11,327.43 crore. The mainboard public offer comprises  a fresh issue of 11.54 crore shares, worth Rs 4,499 crore, and an offer-for-sale (OFS) component of 17.51 crore shares, amounting to Rs 6,828.43 crore.

Swiggy IPO Key dates

After the subscription, Swiggy IPO allotment status is expected to be finalised on November 11. The company will initiate refunds and transfer of shares into the Demat accounts on November 12.

The listing date for the Swiggy IPO has been tentatively fixed as November 13.

Swiggy IPO Price Band And Other Details

Swiggy has set the price band for its IPO between Rs 371 and Rs 390 per share.

The minimum bidding size for retail investors is at least a single lot of 38 shares, aggregating to Rs 14,820. For small high-net-worth individuals (HNIs), the minimum application size is 14 lots, or 532 shares, amounting to Rs 2,07,480. For big high-net-worth individuals (b-HNI), the minimum application threshold stands at 68 lots, or 2,584 shares, with an investment of Rs 10,07,760.

The company has set aside up to 7.5 lakh shares for its employees. The shares will be available at a discounted rate of Rs 25 to the issue price.

The book-running lead managers of the Swiggy IPO are Kotak Mahindra Capital Company Limited, Citigroup Global Markets India Private Limited, Jefferies India Private Limited, Avendus Capital Pvt Ltd, JP Morgan India Private Limited, Bofa Securities India Limited and ICICI Securities Limited. Link Intime India Private Ltd serves as the issue's registrar.

Swiggy IPO Objective

Swiggy plans to use the net proceeds from its IPO for several strategic initiatives. Key allocations include repaying or pre-paying borrowings for its material subsidiary, Scootsy and expanding its dark store network in the quick commerce segment through new store setups and lease payments. Funds will also be invested in technology and cloud infrastructure, along with brand marketing efforts to enhance platform visibility.  

About Swiggy

Swiggy, founded in 2014, operates a food ordering and delivery platform. The app allows the users to place orders for food, groceries and household goods. The company's major business verticals include food delivery, dine-out booking, quick commerce (Instamart) and parcel delivery business (Genie).