Swiggy IPO to Open on November 6 with Price Band Set Rs 371-390 Per Share, Aiming to Raise Rs 11,327.4 Crore

Food and grocery app Swiggy will open an Initial public offering (IPO) on November 6, with a set price between Rs 371 and 390 per share. The company aims to raise Rs 11,327.4 crore. The pricing of the SoftBank-backed company will give 11.3 billion. The food delivery company is expected to file its red herring prospectus with SEBI later today (October 29).

This will be one of the largest IPOs in India this year, and it is likely to open on November 6, 2024. The offering will include a secondary sale component of Rs 6,800 crore through an offer for sale (OFS) and Rs 4,500 crore in primary capital, which will flow directly into the company.

New Mainboard IPO

SWIGGY Limited

Date : 6-8 November

Price Band : 371-390

Issue Size : 11,327.4 Cr
Fresh - 4499 Cr
OFS - 6828.4 Cr

FV : 1
Retail : 10%
Employee Quota : 36.75 Cr

FY23
Rev : 8714 Cr
Net Loss : (4179 Cr)

FY24
Rev : 11634 Cr
Net Loss : (2350 Cr)

Q1 FY25
Rev :… pic.twitter.com/HxDSDv6Dnf

— Tanmay 🇮🇳 (@Tanmay_31_) October 28, 2024

 
Marquee funds BlackRock and Canada Pension Plan Investment Board (CPPIB) may invest in the IPO, which will be the country's second-largest stock offering this year. Swiggy competes with Zomato in India's online restaurant and food delivery sector, and both have bet big on the boom in quick-commerce, where groceries and other products are delivered in as little as 10 minutes.

Also Read | NTPC Green Energy gets SEBI nod for Rs 10,000 crore IPO.

Analysts believe Swiggy will reduce its promotional and advertising expenses in the near term to achieve EBITDA-positive status. 

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