Swiggy Limited, India’s leading on-demand convenience platform, has officially launched its Initial Public Offering (IPO) today, with the price band set between ₹371 and ₹390 per equity share. The IPO will close on November 08, 2024. The offering consists of a fresh issue of equity shares worth up to ₹44,990 million, along with an offer for sale of 175,087,863 shares by existing shareholders. As part of the IPO, 750,000 equity shares have been reserved for eligible employees, constituting up to 5% of the post-offer paid-up equity share capital.
Investors can place bids for a minimum of 38 shares, and in multiples thereafter. Swiggy aims to list its shares on both the Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE).
The IPO is being managed by a group of prominent investment banks including Kotak Mahindra Capital Company, J.P. Morgan India, Citigroup Global Markets, and others, who are leading the book-building process. Swiggy’s IPO comes at a pivotal moment as the company looks to further solidify its position in India’s competitive food-tech and convenience sector.
