Swiggy ipo
Swiggy’s IPO is showing signs of a slight increase in its listing in GMP, but if we look at it carefully, some improvement has taken place since then.
Today, on Monday, 4 November, a huge fall was witnessed in the stock market, due to which a negative sentiment was created in the market, which has impacted the current GMP, because due to this huge fall, the benchmark sensex fell by almost 940 points and closed at its lowest level in 3 months, and a similar situation is prevailing with nifty, where nifty has already fallen below the mark of 24,000.
Swiggy shares are not giving any special indication in the grey market, this is just an estimate of the rough listing.
Currently Swiggy shares are at a grey market premium of Rs 20-22 which indicates a premium of 5.64% in the unofficial market.
Earlier, the grey market premium of shares was at Rs.18 with a nominal increase of 4.62%.
Swiggy IPO is coming in the situation of market conditions on 4th November when foreign investors are leaving the market and urban demand is in a sluggish state. Due to all these, there is a lot of pressure on the domestic market.
Swiggy IPO will be open for public issue bidding from 6th November to 8th November. Swiggy has a revenue share of 40% in the field of quick commerce which is continuously helping Swiggy to expand very fast.
Swiggy is looking to raise over Rs 11,000 crore and is hinting at a premium nominal listing option in the grey market for the Swiggy IPO.
According to some reports, some very big investors like Norway’s sovereign wealth fund norges and fidelity along with other big investors have placed bids worth over $15 billion in the Swiggy IPO and that is 25 times more than the $605 million portion reserved for such investors.
Swiggy has cut its estimated valuation for the IPO to $11.3 billion from the earlier $15 billion.
Swiggy IPO price band has been fixed by the company at Rs. 371-390.
Swiggy IPO – Key Features
- Swiggy IPO Date: Swiggy IPO will open for public on Wednesday, November 6 and close on Friday, November 8.
- Swiggy IPO Price Band: The price band has been fixed at Rs. 371-390 per share.
- Swiggy IPO Lot Size: The minimum lot size has been fixed at 38 shares. At the upper price band of Rs. 390, the minimum investment amount required by retail investors is Rs. 14,820.
- Swiggy IPO Size: The company is looking to raise Rs. 11,327.43 crore which is a combination of a fresh issue of 11.54 crore equity shares with a total issue amount of Rs. 4499 crores and the remaining 17.51 crore shares are offered for sale for Rs. 6828.43 crores.
- Swiggy IPO Reservation: 75% of the shares are for qualified institutional bidders, 15% of the net issue is for non-institutional investors and 10% is reserved for retail investors. 7,50,000 shares are reserved for employees of Swiggy, giving them a discount of Rs. 25 per share on the issue price.
- Swiggy IPO Allotment & Listing: The allotment date of the IPO is November 11 and the listing of the IPO is expected on November 13. The company will credit the shares to eligible investors in their demat accounts on November 12 and will start refunding unsuccessful bidders from November 12 itself.
- Swiggy IPO GMP (Grey Market Premium): Today Swiggy IPO GMP is Rs. 22 per share – according to stock market observers. This indicates that Swiggy shares are trading at Rs. 412 per share in the grey market, a premium of Rs. 22 per share or 5.64% to its issue price of Rs. 390 per share.
Swiggy Financial Statistics
The company has reported losses on a consolidated basis in the last 3 financial years.
For the financial year ending March 2024, Swiggy has reported a net loss of Rs. 2,350.24 crore on revenue of Rs. 11,634.35 crore. For the 3 months ending on June 2024, Swiggy has reported a net loss of Rs. 611.01 crore and revenue of Rs. 3,310.11 crore has been recorded.
