Swiggy IPO Live Updates: Shares of Bangalore-based Swiggy are open for public subscription in the price range of ₹371 to ₹390 on Wednesday November 6. The IPO will remain open until Friday, November 8.

At the end of the first day of bidding, Swiggy IPO was 12% subscribed. The IPO received bids for 1,89,80,620 shares against 16,01,09,703 shares on offer.

The portion reserved for employees is the most reserved at 74%, followed by the portion of individual investors at 54%.

The non-institutional investor (NII) portion received 6% bids at the end of the first day, while the qualified institutional buyer (QIB) quota saw no bids.

The food delivery giant has attracted considerable interest from institutional investors, collecting ₹5,085.02 crores 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 crores alongside an offer for sale (OFS) of ₹6,828 million.

The secondary share involves exits or partial exits from venture capital firms Accel India, Tencent Cloud Europe and Alpha Wave Ventures, with early investors putting in between. ₹11.17 and ₹178.90 per share, based on the time of their joining the company, according to the information provided.

The company aims to use the proceeds from the new issue to invest in cloud technology and infrastructure; brand marketing and commercial promotion; pay off debt; as well as the allocation of funds for inorganic growth and general corporate purposes.

Swiggy, established in 2014, reported a loss of ₹611 crore for the quarter ended June 2024, up slightly from ₹564 crore in the corresponding period a year ago.

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