Swiggy IPO - Day 3 Subscription at 0.85 Times

Swiggy's initial public offering (IPO) has received a mixed response over the three-day period. The IPO witnessed gradual improvement in demand, with subscription rates growing from 0.12 times on day one, to 0.35 times on day two, and reaching 0.85 times by 12:13 PM on the final day.

Swiggy IPO, which opened on 6th November 2024, has seen varied participation across categories. As of the latest data, the Employee segment continues to lead with 1.26 times subscription, while Retail Investors demonstrated decent participation at 0.91 times. The QIB portion stands at 0.46 times, while NII category shows limited participation at 0.16 times.

This measured response comes amid ongoing sentiment in the Indian stock market, particularly towards technology-driven food delivery and e-commerce companies. At the upper price band, Swiggy's valuation is estimated to be around Rs 95,000 crore, compared to competitor Zomato's current market valuation of Rs 2.25 lakh crore.
 

Subscription Status of Swiggy IPO:

As of 12:13 PM
Here are the subscription details for Swiggy IPO as of Day 3 (8th November 2024, 12:13 PM):

Note:

• The IPO aims to raise ₹11,327.43 crore through a mix of fresh issue (₹4,499 crore) and offer for sale (₹6,828.43 crore).
• The Grey Market Premium (GMP) stands at ₹2, indicating a listing price of ₹392.

Key Highlights:

• Currently, overall subscription improved significantly to 0.85 times, showing stronger investor response.
• Employee portion maintained lead with 1.26 times subscription.
• Retail investors showed steady participation with 0.91 times subscription.
• QIB portion improved to 0.46 times showing institutional interest.
• Non-Institutional Investors (NII) showed limited interest at 0.16 times.
• The subscription trend indicates significant improvement on the final day.

Swiggy IPO - Day 2 Subscription at 0.35 Times

Key Highlights:

• Overall subscription reached 0.35 times, showing gradual increase in interest.
• Employee portion exceeded full subscription at 1.16 times.
• Retail investors showed improved participation with 0.84 times subscription.
• QIB portion showed increased participation at 0.28 times.
• Non-Institutional Investors (NII) demonstrated modest interest with 0.14 times subscription.
• Total applications increased significantly on day two.

Swiggy IPO - Day 1 Subscription at 0.09 Times

Key Highlights:

• Overall subscription reached 0.12 times on the opening day, showing a cautious initial response.
• Employees showed strongest interest with 0.76 times subscription.
• Retail investors demonstrated moderate interest with 0.56 times subscription.
• Non-Institutional Investors (NII) showed limited interest, with a subscription of 0.06 times.
• Qualified Institutional Buyers (QIB) have yet to show significant participation.
• Total applications reached 2,40,774 on the first day.
• The subscription trend indicated a cautious opening-day response across most categories.
   

Also read Swiggy IPO 2024: Key Details, Growth Prospects

About Swiggy Limited

Swiggy Limited, founded in 2014, is India's leading technology-enabled platform specialising in food delivery, quick commerce, and local services. The platform provides an integrated ecosystem for users to search, select, order, and pay for food delivery, groceries, and household goods through a single app interface.

The company operates through five strategic business verticals: Food Delivery, Quick Commerce (Instamart), Out-of-home consumption (Dineout and SteppinOut), Supply chain and distribution, and Platform innovation (Swiggy Genie). As of 30th June 2024, Swiggy's Instamart service operated 557 Active Dark Stores across 32 cities in India, expanding to 605 stores across 43 cities by September 2024. The platform offers approximately 19,000 SKUs of grocery and household items, and employs 5,401 people to support its extensive operations across India.

Highlights of the Swiggy IPO

• IPO Date: November 6, 2024 to November 8, 2024
• Listing Date: November 13, 2024 (Tentative)
• Face Value: ₹1 per share
• Price Band: ₹371 to ₹390 per share
• Lot Size: 38 Shares
• Total Issue Size: 290,446,837 shares (aggregating up to ₹11,327.43 Cr)
• Fresh Issue: 115,358,974 shares (aggregating up to ₹4,499.00 Cr)
• Offer for Sale: 175,087,863 shares (aggregating up to ₹6,828.43 Cr)
• Employee Discount: ₹25 per share
• Issue Type: Book Built Issue IPO
• Listing At: BSE, NSE
• Book Running Lead Managers: Kotak Mahindra Capital Company Limited, Citigroup Global Markets India Private Limited, Jefferies India Private Limited, Avendus Capital Pvt Ltd, J.P. Morgan India Private Limited, Bofa Securities India Limited and ICICI Securities Limited
• Registrar: Link Intime India Private Ltd