Swiggy IPO Launch: Grey Market Premium Remains Positive – Should You Subscribe? 

Swiggy's long-awaited IPO is opening tomorrow, November 6, 2024. The early signs suggest it's a good opening on the grey market. Unlisted shares of the Softbank-backed online food delivery leader, Swiggy, are trading in the grey market at a GMP of Rs 20, which translates to a 5.13% premium over the upper price band of Rs 390. Swiggy through this public issue is to raise approximately Rs 11,327.43 crores through a fresh issue and an offer for sale (OFS).

Swiggy IPO Price Band and Lot Size
It's been fixed between Rs 371 and Rs 390 per equity share for its IPO, while the lot size has been defined to be 38 shares. The investment will begin from at least one lot while the total becomes Rs 14,820 for 38 shares. For their employees, a reserved quota to the tune of up to 750,000 shares are to be offered in form of a concession of discounting Rs 25 at per share on the last price.

Swiggy IPO Subscription Dates and Allotment Details
Swiggy's IPO opens the subscription period on November 6 and closes on November 8, 2024. The allotment of shares of Swiggy IPO would be finalized on November 11 and shares credited to the demat account by November 12, 2024. Swiggy shares would be launched on BSE and NSE on November 13, 2024.
IPO Book Running Lead Managers
Deals of financial bigwigs such as JP Morgan India, BofA Securities India, Jefferies India, Kotak Mahindra Capital Company, Citigroup Global Markets India, Avendus Capital, and ICICI Securities will be running the book for this IPO. It has created more investor interest in the Swiggy IPO and has an edge to compete as one of the biggest IPOs in India's tech and food delivery space.

Grey Market Premium and Investor Sentiment
The grey market premium for IPO for Swiggy has been positive, with a stock trading at a Rs 20 premium. That high premium is an indication of the high demand that swells with optimism that may be surrounding Swiggy's future growth as regards India's online food delivery industry. A grey market premium of 5.13% indicates quite intense investor interest, with this making Swiggy one of the most tempting ones for those seeking a quick listing gain or more a long-term investment.

Whether or Not to Invest in Swiggy's IPO?
The Swiggy IPO has been positive as far as brand presence is concerned, along with a position in the market. Going forward, it looks pretty promising and has every prospect of emerging as one of the high-growth stocks in this fast-expanding sector. However, if the upper price band at Rs 390 needs some careful study of its revenue and profit metrics before you decide on investing.

For the potential investor, the strong grey market premium would mean bullish sentiments, but the valuation and market dynamics for Swiggy are to be kept in mind. The investors need to keep a check on current happenings as it may affect Swiggy's listing day performance.

Swiggy and robust institutional support make it an eagerly awaited IPO debut in Indian technology IPO space with a grey market premium.