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Monday, October 28, 2024

Swiggy IPO: Swiggy fixed price band at Rs 371-390, IPO will open from this date

Swiggy IPO: Swiggy fixed price band at Rs 371-390, IPO will open from this date

Swiggy IPO Price Band: Swiggy is going to raise Rs 11700 crore through IPO at a price of Rs 390.



Swiggy IPO: Online food delivery company Swiggy has decided the price band of its IPO. The company has fixed a price band of Rs 371-390 per share for the IPO opening on November 6, 2024. Swiggy's IPO will open on November 6 and investors can bet on it until November 8.

371-390 rupees per share price band!

According to a Bloomberg report, Swiggy will raise Rs 11,700 crore from the IPO at an issue price of Rs 390. Prosus and Softbank-backed Swiggy's IPO will be open from November 6-8. The IPO will open for anchor investors on November 5. The size of Swiggy's IPO is Rs 11700 crore, in which new shares worth Rs 4500 will be issued, apart from this, shares worth Rs 6800 crore will be sold under Offer For Sale.

A valuation of $11.3 billion is the target

As per the issue price, the company is targeting a valuation of $11.3 billion. The company was earlier targeting a valuation of $15 billion. But due to the disappointing listing of Hyundai Motor India's mega-IPO and the ongoing turmoil in the stock market, Swiggy has reduced its IPO valuation. Hyundai Motor India Rs.27856 This will be the second largest IPO to hit the Indian stock market in the year 2024 after the 27856 crore IPO. Swiggy may be listed on the stock exchange on 13 November 2024. In September 2024, the stock market regulator SEBI allowed Swiggy to launch an IPO.


From cricketers to film personalities have invested

Ahead of Swiggy's IPO launch, several cricketers to film personalities have bought shares in Swiggy, including Amitabh Bachchan to former Team India coach Rahul Dravid. Apart from this, Madhuri Dixit, Karan Johar also bought shares of Swiggy before the IPO. Ramdev Aggarwal, chairman of Motilal Oswal Financial Services, has also bought a stake in Swiggy.

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