Swiggy Limited, one of India’s leading on-demand convenience platforms, has launched its Initial Public Offering (IPO) today, marking a significant step in its journey. The IPO opens on November 06, 2024, and will close on November 08, 2024, with a price band set between ₹371 and ₹390 per equity share, each having a face value of ₹1.
The offer consists of a fresh issue of equity shares aggregating up to ₹44,990 million and an offer for sale by the company’s existing shareholders of up to 175,087,863 shares. Additionally, 750,000 equity shares have been reserved for eligible employees under the Employee Reservation Portion, which will constitute 5% of the post-offer paid-up equity share capital.
Bids can be made for a minimum of 38 shares, and in multiples thereafter. The company plans 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 leading investment firms including Kotak Mahindra Capital Company, J.P. Morgan India, Citigroup Global Markets, and others. This marks a major milestone for Swiggy as it continues to expand its footprint in the Indian market.
