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Swiggy IPO gets oversubscribed by 3.59X
The Rs 11,327-crore initial public offer of food delivery and quick-commerce major Swiggy fully subscribed on the final day of the share sale on Friday and ended with 3.59 times subscription.
New Delhi: The Rs 11,327-crore initial public offer of food delivery and quick-commerce major Swiggy fully subscribed on the final day of the share sale on Friday and ended with 3.59 times subscription.The initial share sale received bids for 57,53,07,536 shares against 16,01,09,703 shares on offer, translating into 3.59 times subscription, as per NSE data. The portion for qualified institutional buyers (QIBs) subscribed 6.02 times, while retail individual investors (RIIs) received 1.14 times subscriptions.
The quota for non-institutional investors fetched 41 per cent of subscriptions. Swiggy on Tuesday said it has collected Rs 5,085 crore from anchor investors. The Bengaluru-based company's IPO has a price range of Rs 371-390 a share. The company's IPO (Initial Public Offer) has a fresh issue of shares worth Rs 4,499 crore, along with an offer for sale (OFS) of Rs 6,828 crore. The valuation of Swiggy has been pegged at about USD 11.3 billion (about Rs 95,000 crore) at the upper end of the price band.
