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- By Aditya Pratap Singh
- Fri, 01 Nov 2024 03:54 PM (IST)
- Source:JND
Swiggy IPO GMP: The initial public offering of online food delivery and quick commerce firm 'Swiggy' is scheduled to open on November 6 and will remain open for subscription till November 8. Earlier, there was a lot of buzz around Swiggy's IPO as the company was raising money from celebrities and home offices of high-net-worth individuals in the pre-IPO placement round. However, since the announcement was made for the IPO, the grey market premium has become a matter of concern for investors. It is falling every passing day.
GMP is falling gradually?
According to Investors Gain, Swiggy's shares are trading low in the grey market. In the unofficial market, Swiggy's IPO is trading at a premium of Rs 18. Based on the current GMP, Swiggy's IPO is expected to list at around a 5% premium. The current grey market premium is not encouraging for investors. Till now the highest GMP of Swiggy in the grey market has been Rs 25.
The Price Band Was Set At Rs 371 to Rs 390
Swiggy's IPO price range has been set at Rs 371 to Rs 390 per share. The company has created a lot of 38 shares, which means investors have to invest at least Rs 14,820 to place a bid for Swiggy's IPO. After the subscription ends, the company will allot the shares on November 11. the shares are scheduled to be listed on BSE and NSE on November 13. Swiggy employees can get a discount of Rs 25 per share on subscription.
Swiggy IPO size is Rs 11,327.43 crore. Through an IPO, the company will issue 11.54 crore fresh shares, and Swiggy will also sell 17.51 crore shares under the Offer for Sale. The company will set aside at least 75% of the shares for qualified institutional buyers. At the same time, up to 10% of the company's shares will be available to retail investors. 15% of the shares will be set aside for non-institutional investors.