Swiggy IPO GMP: The IPO of online food delivery app Swiggy will open for subscription tomorrow i.e. Wednesday, November 6 and will close on Friday, November 8. Swiggy wants to raise a total of Rs 11,327.43 crore from this IPO. This online food ordering and delivery company will issue 11,53,58,974 new shares worth Rs 4499 crore under its IPO. Whereas the promoters of the company will issue 17,50,87,863 crore shares worth Rs 6828.43 crore through OFS.
Retail investors will get 38 shares in one lot
The company has fixed the price band of Rs 371 to Rs 390 for each share with face value of Re 1 under this IPO. Swiggy employees will be given a discount of Rs 25 on each share. Retail investors applying for the IPO will have to invest at least Rs 14,820, in which they will be given 38 shares in one lot. This is a mainboard IPO, which will be listed on both the major exchanges of the Indian stock market, BSE and NSE.
IPO will be listed in the stock market on 13 November
Swiggy has reserved 75 percent quota for QIBs, 10 percent for retail investors and 15 percent for NII under its IPO. Allotment of shares will be done on Monday, November 11 after the IPO closes on November 8. The shares will be credited to the demat accounts of the investors the very next day i.e. Tuesday, 12th November. Finally, on Wednesday, November 13, the IPO will be listed in the stock market.
What is the status of gray market premium?
Now only a few hours are left for Swiggy's IPO to open, but there is no significant reaction yet regarding the company's shares in the gray market. According to websites that monitor gray market premium of shares, on Tuesday, November 5, the GMP price of the company's shares was running at Rs 7 (1.79 percent). But it is believed that the GMP price of Swiggy shares can go up or down depending on the subscription.
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