Swiggy IPO: The food delivery giant, Swiggy, launched its IPO and is moving towards its listing. The listing of Swiggy IPO will happen on 13 November, 2024. All the bidders were eagerly waiting for the allotment message yesterday. The investors were looking for a notification through alert, text, or email about the debit of funds. This could also be about the cancellation of their IPO mandate. This process was completed by Tuesday, 12 November.
The food delivery giant was expecting a vivid response from the audience, but due to investors sentiments, the IPO received a tepid response from investors during the 3 days of the bidding period.
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Today, the IPO was trading as low as at Rs. 2, lower than Rs 5 from Monday. This decline is the result of a shift in investor sentiment and a lukewarm response from investors. In October, after the price band was announced, Swiggy shares initially saw strong GMP demand of Rs. 130 per share before the IPO opened.
Simple Steps To Check IPO Allotment Status-
Investors, and bidders who took part in the bidding of Swiggy IPO, can check the allotment status on the Bombay Stock Exchange (BSE) website:
- Visit the BSE website: Go to the website of BSE- ‘www.bseindia.com‘
- Select the Issue Type: Choose “Equity” under the issue type section.
- Choose the Issue Name: In the drop-down menu, find and select ‘Swiggy Limited.’
- Enter Your Application Number: Provide the application number for your bid.
- Enter PAN Card ID: Input your PAN card number, make sure all your details match.
- Complete the CAPTCHA: Check the box that says “I am not a Robot” and click the “Search” button.
Swiggy IPO Details
Swiggy is a company based out in Bangalore, was open for bidding from November 6 to November 8, offering shares in a fixed price band of Rs. 371-390 per share, with a lot size of 38 shares. Swiggy raised a total of Rs. 11,327.43 crore from its IPO. This included Rs. 4,499 crore from fresh share sales, and an offer-for-sale (OFS) of up to 175,087,863 equity shares.
Read More: Swiggy Is All Set For The Final Bell; Simple Steps To Check IPO Allotment Status
According to observers, the expectations form Swiggy IPO were high, the investors subscribed only 3.59 times, which was below the expectations of observers. The Qualified Institutional Bidders (QIBs) showed interest at the last moment, and they eventually booked the issue 6.2 times. Retail investors and employees subscribed 1.14 times and 1.46 times, respectively, while the portion for non-institutional investors (NIIs) was booked at merely 41%.
Read More: Swiggy IPO: Negative Market Sentiment Suggests Minimal Listing Gains for Swiggy’s IPO
