Swiggy IPO: Online food delivery company Swiggy has decided the price band of its IPO. The company has fixed the price band of Rs 371-390 per share for the IPO going to open on 6 November 2024. Swiggy’s IPO will open on 6 November 2024 and investors will be able to apply for this IPO till 8 November 2024.
Price band Rs 371-390 per share!
According to Bloomberg report, Swiggy will raise Rs 11,700 crore in IPO at the issue price of Rs 390. The IPO of Prosus and Softbank-backed Swiggy will be open from 6-8 November. The IPO will be open for applications from Anchor Investors on November 5. The size of Swiggy’s IPO is Rs 11,700 crore, in which Rs 4500 crore will be raised by issuing new shares while the remaining amount of Rs 6800 crore will be raised through Offer for Sale.
$11.3 billion valuation is the target
According to the issue price, the company is targeting a valuation of $ 11.3 billion. Earlier the company was targeting a valuation of $15 billion. But after the disappointing listing of Hyundai Motor India’s mega-IPO and the ongoing turmoil in the stock market for the last one month, Swiggy has reduced the valuation of its IPO. This will be the second largest IPO to hit the Indian stock market in the year 2024 after Hyundai Motor India’s Rs 27856 crore IPO. Swiggy may be listed on stock exchanges on November 13, 2024. In September 2024, stock market regulator SEBI had given approval to Swiggy to launch IPO.
From cricketers to film personalities invested
Before the launch of Swiggy’s IPO, many celebrities from cricket to film have bought shares of Swiggy, in which everyone from Bollywood’s Shahenshah Amitabh Bachchan to Team India’s Mr. Dependable Rahul Dravid have invested. Apart from this, Madhuri Dixit, Karan Johar have also bought shares of Swiggy before the IPO. Motilal Oswal Financial Services Chairman Ramdev Aggarwal has also bought stake in Swiggy.
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