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Swiggy’s IPO to open on November 6, Price Band fixed at Rs 371 to Rs 390 per equity share
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Monday, 04 November, 2024, 16 : 00 PM [IST]
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Our Bureau, Bengaluru
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Swiggy, India's pioneering on-demand convenience company proposes to open its initial public offering on November 6, 2024. Bid/ Offer Closing Date will be November 8, 2024. Anchor Investor Bidding Date is one working day prior to bid opening date, that is, November 05, 2024.
The Price Band of the Offer has been fixed from Rs 371 per Equity Share to Rs 390 per Equity Share. Bids can be made for a minimum of 38 Equity Shares and in multiples of 38 Equity Shares thereafter.
The offer comprises of a Fresh Issue of Equity Shares aggregating up to Rs 44,990 million and an offer for sale of up to 175,087,863 equity shares by the Selling Shareholders. The offer includes a reservation of up to 750,000 equity shares of face value of Rs 1 each, the offer less the Employee Reservation Portion is hereinafter referred to as the Net Offer.
The Equity Shares offered through the Red Herring Prospectus are proposed to be listed on BSE and National Stock Exchange of India (NSE).
This is an offer in terms of Rule 19(2)(b) of the SCRR read with Regulation 31 of the SEBI ICDR Regulations. This Offer is being made through the Book Building Process in compliance with Regulation 6(2) of the SEBI ICDR Regulations wherein not less than 75% of the Net Offer shall be available for allocation on a proportionate basis to Qualified Institutional Buyers provided that our Company and Selling Shareholders, in consultation with the BRLMs, may allocate up to 60% of the QIB Portion to Anchor Investors on a discretionary basis in accordance with the SEBI ICDR Regulations, of which one-third shall be reserved for domestic Mutual Funds, subject to valid Bids being received from domestic Mutual Funds at or above the price at which Equity Shares will be allocated to the Anchor Investors, in accordance with the SEBI ICDR Regulations.
Kotak Mahindra Capital Company Limited, J.P. Morgan India Private Limited, Citigroup Global Markets India Private Limited, BofA Securities India Limited, Jefferies India Private Limited, ICICI Securities Limited and Avendus Capital Private Limited are the book running lead managers to the offer.
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