Swiggy, the food and grocery delivery giant, is gearing up for its much-awaited IPO, which will open for subscription on November 6, 2024. This is going to be a big market event since Swiggy will raise more than ₹11,000 crore through this public issue. This would include fresh equity as well as an offer for sale. Investors looking to join in should know some of the key details before subscribing:.

Swiggy IPO Dates and Price Band Swiggy would float its IPO, opening for public subscription on 6 November and closing the same on 8 November. The price band has been set at ₹371 to ₹390 per equity share, which is quite within the reach of retail investors.

Swiggy plans to raise nearly ₹11,327.43 crore at the higher end of the price band for the IPO. This is to be done through an issuance of 11.54 crore fresh equity shares for ₹4,499 crore besides an offer for sale of 17.51 crore shares for ₹6,828.43 crore. The minimum lot size available in an application is 38 shares amounting to nearly an initial investment of ₹14,820 at the upper price band.

Wholesaler Selling? The OFS portion of the IPO comprised shares of well-known shareholders from Accel India, Tencent, and other investors. Each of these has been quite supportive of Swiggy's growth journey.

Objects of Investment Swiggy intends to use the sum raised through its IPO, for various purposes, notably investing in its material subsidiary Scootsy, updating of technology and cloud infrastructure among others, and general purposes of the corporation.

GMP and Market Sentiment The Grey Market Premium on Swiggy shares is already at ₹22. Thus, the optimism in investors' minds must be running high. ₹412 should be the market price when Swiggy shares trade in the grey market; this is some profit in the hands of early investors.

Allotment and Listing Details Allotment is expected to happen on November 11 and listing on November 13. The shares would be credited to the demat account of successful investors on November 12.

The high interest from institutional investors attracted has seen reported bids rise above $15 billion or 25 times the part of the offer. Indeed, with Swiggy listing, retail investors have huge potential. Of course, in navigating the markets with some recent financial loss, both potential returns and inherent risk go hand-in-hand.

The next update shall be up on IPO date announcement.

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