The initial public offering (IPO) of Swiggy Limited, an e-commerce platform, opened for subscription on November 6, 2024. The bidding process lasts for three days and the issue closes on November 8, 2024 The issue size of the IPO is Rs. 11,327.43 crores with a total of 290,446,837 pn shares being offered. The company has set the price range between Rs 371 and Rs 390.

As of last count (4 p.m.), the company received a total of 1,78,10,182 bids against 16,01,09,703 shares, or just 0.11 times, according to NSE data. Non-institutional investors (NIIs) subscribed for 0.05 times the quota available to them, while retail individual investors (RIIs) applied for 0.52 times the total shares offered to them. However, qualified institutional buyers (QIBs) have so far not shown interest in the IPO as the subscription rate is zero.

Why Swiggy raises Rs 11,327.43 crore?

The Rs 11,327.43 Swiggy IPO contains an offer for sale of Rs 6,828 crore by the selling shareholders. And the other amounts from investors are distributed as follows:

• Rs 165 million: Repayment or early repayment of loans from the Scootsy subsidiary
• Rs 1,179 million: Dark Store Expansion
• Rs 703 million: Technology investments and cloud infrastructure
• Rs 1,115 million: Brand Marketing, Promotional Spending, and Overall Business Goals

Why do analysts recommend it for the long term?

Analysts at Geojit Financial have assigned a ‘subscribe’ rating for a long-term investment outlook due to strong brand recall, diversified offerings, integrated application, rapid scaling, of consistent innovation, the expansion of dark stores and the promising outlook for the sector.

Analysts at SBI Securities also recommended to apply for it and hold it for the long term. At the same time, they also highlighted some key risks of the business, such as user base risk, delivery partner retention, restaurant, merchant and brand partner loyalty, dark store network and technology.

Another domestic brokerage, MOFSL, stressed that it was recommending that only “high-risk takers” apply for the long-term Swiggy IPO.

Swiggy IPO: Key Details; date of registration and allotment, registrar, BRLM

Here are the other details of the Swiggy IPO, including IPO date, allotment date and official registrar:

When is the Swiggy IPO grant date?

The Swiggy IPO allotment date is November 11, 2024, which indicates that applicants can check their status on November 12, 2024.

Who is the official registrar of Swiggy IPO?

An official registrar of Swiggy IPO is Link Intime India Pvt Ltd, and people can know their status through this URL. ‘linkintime.co.in/initial_offer/public-issues.html’