NEW DELHI: The share allotment for Swiggy’s IPO is set to be finalised today, allowing investors to check their status on platforms such as BSE and Link Intime India, the IPO’s registrar. Swiggy’s debut on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) is slated for November 13.
Muted Grey Market Premium (GMP)
Despite respectable demand during the subscription period, the grey market premium for Swiggy shares has been minimal. According to sources tracking the unlisted market, shares are trading at a premium of only Re 1 above the IPO price of Rs 390, indicating a 0.26% markup.
How to check IPO allotment status of Swiggy
Investors who applied for Swiggy’s IPO can determine their allotment status by visiting any of the following:
On BSE: Visit the BSE website at https://www.bseindia.com/investors/appli_check.aspx, select the issue name (Swiggy IPO), and enter the application or PAN number.
On Link Intime India: Go to https://linkintime.co.in/initial_offer/public-issues.html, select “Swiggy IPO,” and input PAN details.
On NSE: Visit the NSE’s IPO portal at https://www.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp.
Swiggy IPO subscription details
Swiggy’s IPO saw a healthy subscription rate, with investors bidding for over 57 crore shares, resulting in an oversubscription of approximately 3.59 times. Qualified Institutional Buyers (QIBs) led the demand with a 6.02 times subscription rate, followed by non-institutional investors at 10.41 times and retail investors at 1.14 times. The employee reserved portion was subscribed 1.65 times.
Issue Details and Use of Proceeds The IPO, priced between Rs 371-390 per share with a lot size of 38 shares, aimed to raise Rs 11,327 crore. The proceeds will primarily fund investments in Swiggy’s material subsidiary Scootsy, in addition to technology infrastructure, brand marketing, and business promotion over the next four to five years.
Swiggy’s Financials and Market Position Swiggy, a prominent player in India’s food and grocery delivery sector alongside competitor Zomato, has expanded into quick-commerce. Despite this, the company has faced ongoing net losses, with a loss of Rs 2,350 crore in FY24, although revenue grew significantly to Rs 11,247 crore.
Swiggy shares are expected to list at a premium of approximately Re 1 above the upper price band, based on current grey market trends.