Swiggy, the online food delivery giant and competitor to Zomato, is gearing up for its upcoming initial public offering (IPO), with plans to list on the BSE and NSE. The company has set a price band for its IPO, which aims to raise ₹11,300 crore, comprised of a fresh issue of ₹4,500 crore and an offer for sale (OFS) totaling ₹6,800 crore.
Key Details:
- IPO Timeline:
- Anchor Investor Subscription: November 5, 2024
- Main IPO Subscription Period: November 6 to November 8, 2024
- Price Band Announcement: Set for November 6, 2024.
- Selling Shareholders in OFS: Include prominent investors such as Accel India IV, Apoletto Asia, Alpha Wave Ventures, Coatue PE Asia, and others.
- Book Running Lead Managers: Kotak Mahindra Capital Company, Citigroup Global Markets, Jefferies, and several others.
- Registrar: Link Intime India.
Use of Proceeds:
Swiggy plans to allocate the net proceeds from the IPO to:
- Invest in its subsidiary, Scootsy.
- Expand its Dark Store network for its Quick Commerce segment.
Financial Highlights:
As of June 30, 2024, Swiggy reported revenue from operations of ₹32,222.17 million, a notable increase from ₹23,898.18 million a year earlier. The platform has also reached a milestone of 112.73 million transacting users, reflecting substantial growth in both its user base and service offerings.
The grey market premium (GMP) for the IPO is expected to emerge a few days before the subscription period opens, providing insights into market sentiment ahead of the listing.
Disclaimer: This communication is for informational purposes only and should not be construed as financial advice. Investing in stocks involves risks, including potential loss of principal. Please consult with a financial advisor before making any investment decisions. The information provided is based on available data and is subject to change.
Leave a Reply