Swiggy IPO Allotment Date Set for November 11; Proceeds to Boost Tech, Brand, and Subsidiaries

Swiggy is set to finalise the allotment of its IPO shares on Monday, November 11, 2024. By Tuesday, November 12, all bidders will receive notifications about their fund debits or IPO mandate revocations via messages, alerts, or emails. The IPO, launched by Bengaluru-based Swiggy, ran from November 6 to November 8 and saw only moderate interest from investors.

IPO Details and Subscription Figures

Swiggy’s shares were offered in a fixed price range of ₹371-390 per share, with a minimum lot size of 38 shares. Through this IPO, Swiggy raised ₹11,327.43 crore, including a fresh share issue worth ₹4,499 crore and an offer-for-sale (OFS) of up to 175,087,863 equity shares.

Swiggy IPO was subscribed 3.59 times overall, driven primarily by a last-minute surge from qualified institutional bidders (QIBs), whose portion was booked 6.02 times. The portions reserved for retail investors and employees were subscribed 1.14 and 1.46 times, respectively, while the non-institutional investors (NIIs) quota saw a subscription of just 41%.

Swiggy’s Business Overview

Founded in 2014, Swiggy provides a user-friendly platform for customers to search, select, and order food, groceries, and household goods. Through its app, users can make purchases via Swiggy’s on-demand delivery network, which includes food delivery and Instamart for grocery and household items.

Planned Use of IPO Funds

Swiggy intends to allocate its IPO funds toward key projects, such as:

1. Subsidiary Investment: Some funds will be used to support Scootsy, Swiggy’s subsidiary.
2. Technology and Infrastructure: Swiggy aims to upgrade its tech capabilities and strengthen its cloud infrastructure.
3. Brand Promotion: Swiggy plans to enhance brand visibility through promotional efforts over the next 4-5 years.

How to Check Your Swiggy IPO Allotment Status Online

If you’ve participated in Swiggy’s IPO and wish to check your allotment status, here are 2 options:

1. Through the BSE Website:
   • Go to the official BSE website.
   • Select “Swiggy” from the dropdown menu.
   • Enter your application or PAN number to view your allotment.
2. Through Registrar (Link Intime India):
   • Visit the Link Intime India website.
   • Choose “Swiggy IPO” from the list.
   • Enter your PAN number and click “Search” to check your allotment status.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.