• Source:JND
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Swiggy IPO GMP:  The food and grocery delivery company Swiggy's initial public offering (IPO) will open for subscription between November 6 to November 8. The company hopes to raise over Rs 11,000 crore through the public offering. Despite all of the hype surrounding the initial public offering, Swiggy's grey market premium indicates that it will not be a blockbuster listing.

Swiggy IPO GMP today

According to Investorgain, the Swiggy IPO GMP or grey market premium has dropped to Rs 8 per share today, indicating that Swiggy shares are trading merely 2.05 per cent higher in the grey market, at Rs 398 per share, against the issue price of Rs 390 per share.

Swiggy IPO Details

Swiggy IPO bidding dates

Bidding for the Swiggy IPO will begin on Wednesday, November 6, and end on November 8 i.e Friday. The allotment of shares will be finalised on November 11 and the company will deposit and refund equity shares in the demat accounts of eligible investors on November 12. The Swiggy share listing date is expected to be November 13.

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Swiggy IPO quota distribution

Approximately 75% of the Swiggy IPO shares are reserved for qualified institutional bidders (QIBs), while 15% of the share sale is reserved for non-institutional investors (NIIs). Retail investors will have 10% of the IPO size. Swiggy has reserved up to 750,000 shares for employees at a discount of Rs 25 on the issue price.

Swiggy IPO size

The Swiggy IPO is a combination of a fresh issue of 11.54 crore equity shares, valued at Rs 4,499 crore, and an offer for sale of 17.51 crore shares worth Rs 6,828.43 crore. The online food delivery and quick commerce site aims to raise Rs 11,327.43 crore from its initial public offering.

Swiggy IPO price band and lot size

Swiggy has set a price band of Rs 371 to Rs 390 per share for its initial public offering, while the lot size for the food delivery firm's IPO is 38 shares, which means, retail investors need a minimum investment of Rs 14,820 to place a bid.

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