Swiggy IPO, set to have mammoth pricing of ₹390 per share.Swiggy Ltd. The company set a price band of ₹371-₹390/share.
The meal delivery service is set to go public between November 6 and 8 Swiggy will look to raise up to $1.35 billion or about ₹11,700 crore from this much-anticipated offering as per the article. In September, SEBI also gave its nod to the company for its maiden public offer.
Swiggy, backed by investors Prosus,SoftBank and Accel Limited filed its offer document on april 30th, though then was valued at $9.3 billion as in august 2023 Vivek Prakash This shows that the IPO, business plan and financial information were confidential until SEBI approval.
The updated draft red herring prospectus (RHP) of the company had been filed earlier in September. A revised form will have to be filed with the exchanges and Registrar of Companies before issuance of final RHP.
Yet another Moneycontrol report adds that an extra ₹4,500 crore will also be added to Swiggy’s IPO. The offer for sale (OFS) has been restructured to facilitate exit plan and investors interest. As per the draft RHP, Swiggy was looking to sell up roughly 182.3 million equity shares via OFS worth ₹three,750 crore
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Based on the net proceeds from the initial public offer, it proposes to invest in its subsidiary, Scootsy. Interestingly enough, The company also has plans to use the funds from its IPO to expand their dark stores network for better delivery services faster.
If all goes well, Swiggy’s IPO could be one of the largest in India similar to Hyundai Motor whose offering a few days back. That said, several blockbuster IPOs from marquee companies like Hyundai Motor Co., Paytm and LIC have been quite tepid on listing.
Founded in 2014 and based in Bangalore, Swiggy competes directly with Zomato and operates in over 580 cities, partnering with more than 200,000 restaurants across India. Zomato’s IPO launched in July 2021 with an issue size of ₹9,375 crore and was oversubscribed by more than 35 times.
Cyril Amarchand Mangaldas is advising company for its IPO, Credit Suisse, Dam Capital Advisors Ltd., Goldman Sachs Group Inc., ICICI Securities discussed people familiar with the matter. Swiggy has raised over 135% in the past twelve months.
| Aspect | Details |
|---|---|
| IPO Size | ₹11,327 crore (₹4,499 crore fresh issue + OFS of 175,087,863 shares) |
| Retail Investor Reservation | 10% of the offer size |
| Subscription Dates | November 6 – November 8 |
| Price Band | ₹371 – ₹390 per share |
| Anchor Investor Bidding | November 5 |
| QIB Reservation | 75% |
| NII Reservation | 15% |
| Use of IPO Proceeds | – Investment in Scootsy for repayment of borrowings – Technology and cloud infrastructure – Brand marketing – Funding inorganic growth |
| Allotment Date | November 11 |
| Credit to Demat & Refund | November 12 |
| Listing Date | November 13 (on BSE and NSE) |
| Lead Managers | Kotak Mahindra, JP Morgan, BofA Securities, Citigroup, Jefferies, Avendus, ICICI Securities |
| Registrar | Link Intime India Pvt Ltd |
| Company Overview | Swiggy Ltd is a food delivery and hyperlocal commerce platform, operational since 2014 (food delivery) and 2020 (quick commerce). |
| Share holder list |
|---|
| Accel India IV (Mauritius) Ltd |
| Apoletto Asia Ltd |
| Alpha Wave Ventures, LP |
| Coatue PE Asia XI LLC |
| DST EuroAsia V B.V |
| Elevation Capital V Ltd |
| Inspired Elite Investments Ltd |
| MIH India Food Holdings B.V |
| Norwest Venture Partners VIIA-Mauritius |
| Tencent Cloud Europe B.V |
Who owns Swiggy?
Shareholder | Percentage Holding |
|---|
| MIH India Food Holdings | 30.93% |
Swiggy Partner Onboarding
Swiggy Partner login Link Here
Swiggy customer care number
How to order food in train from swiggy
Yes, you can order food for someone else on a train. When placing the order on the Swiggy app, enter the recipient’s train details, including their train number, coach, and seat number. Ensure that the contact information is accurate so the delivery person can reach them easily.
The best way to track your food order on a train is through the app. Once you place your order, the app provides real-time updates on the status of your meal, from preparation to delivery. You can monitor the delivery person’s location and get notifications when they are approaching your station and seat.