Swiggy Limited to Launch IPO on November 6, 2024

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Mumbai, 30th October 2024: Swiggy Limited is set to launch its initial public offering (IPO) on November 6, 2024, with a price band set between ₹371 and ₹390 per equity share. The IPO, which will close on November 8, 2024, includes a fresh issue of equity shares worth ₹44,990 million and an offer for sale of up to 175,087,863 equity shares by existing shareholders.

The bid for the IPO can be made for a minimum of 38 equity shares and in multiples of 38 thereafter. The anchor investor bidding process will take place on November 5, 2024, a day before the public offering opens. The equity shares offered will be listed on both BSE Limited (BSE) and the National Stock Exchange of India Limited (NSE).

Swiggy Limited has also reserved up to 750,000 equity shares for eligible employees, which will account for 5% of the company’s post-IPO paid-up equity share capital. This employee reservation portion will allow employees to subscribe to the shares at a special rate, providing them with an opportunity to be part of the company’s growth.

The IPO will follow the book-building process in line with SEBI regulations. At least 75% of the net offer will be allocated to Qualified Institutional Buyers (QIBs), with up to 60% of this QIB portion reserved for anchor investors. Non-Institutional Bidders (NIBs) will be allocated 15% of the net offer, while Retail Individual Bidders (RIBs) will have 10% of the net offer available to them.

Swiggy’s IPO is being managed by a consortium of financial institutions, including Kotak Mahindra Capital Company Limited, J.P. Morgan India Private Limited, Citigroup Global Markets India Private Limited, BofA Securities India Limited, Jefferies India Private Limited, ICICI Securities Limited, and Avendus Capital Private Limited, all acting as book-running lead managers for the offering.

Prospective investors and employees are encouraged to refer to Swiggy Limited’s Red Herring Prospectus for detailed information regarding the offering procedure and terms.

For further details, interested parties can also refer to the price band advertisement in the Financial Express newspaper, dated October 30, 2024, on page 26.