Swiggy IPO Fully Subscribed: All You Need to Know || OxBig News Network

The initial public offer of food delivery and quick-commerce major Swiggy got fully subscribed on the third day of the share sale on Friday.
The Rs 11,327-crore initial share sale received bids for 40,59,18,888 shares against 16,01,09,703 shares on offer, translating into 2.54 times subscription, as per NSE data till 1418 hours.
The portion for Qualified Institutional Buyers (QIBs) got subscribed 4.16 times while Retail Individual Investors (RIIs) received 1.03 times subscription. The quota for non-institutional investors fetched 30 per cent subscription.
Swiggy on Tuesday said it has collected Rs 5,085 crore from anchor investors.
The Bengaluru-based company's IPO has a price range of Rs 371-390 a share.
The company's IPO (Initial Public Offer) has a fresh issue of shares worth Rs 4,499 crore along with an offer for sale (OFS) of Rs 6,828 crore.
The valuation of Swiggy has been pegged at about USD 11.3 billion (about Rs 95,000 crore) at the upper end of the price band.
Going by the draft papers, the company plans to utilise proceeds from the fresh issue for investing in technology and cloud infrastructure; brand marketing and business promotion; and debt payment; and funds will also be allocated for inorganic growth and general corporate purposes.
Kotak Mahindra Capital Company Ltd, JP Morgan India Pvt Ltd, Citigroup Global Markets India Pvt Ltd, BofA Securities India Ltd, Jefferies India Pvt Ltd, ICICI Securities Ltd, and Avendus Capital Pvt Ltd are the book-running lead managers to the offer.

#swiggy #swiggyipo #swiggyapp #ipo #ipoinvesting #ipo2024 #stockmarket #stockmarketnews #stocks #stock #stockmarketindia #trading #fooddelivery #instamart #oxbig #oxbignews #oxbignewsnetwork #news #latestnews #latestupdate #finance #financialplanning #financenews #financialsuccess