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Swiggy IPO GMP status ahead of listing; Check allotment status, other details | Stock Market News
Source: Live Mint
The much-awaited Swiggy Limited’s initial public offering (IPO) is poised to make its Dalal Street debut on Wednesday, November 13. The food delivery and quick commerce company is expected to finalise its share allotment on Monday, November 11.
The successful bidders from the public issue can expect their shares to be credited to their demat accounts on Tuesday, November 12, ahead of its debut on the BSE and NSE stock indices. In case of investors not receiving the share allotment, a refund will be credited to them on the same day.
Investors who placed bids for the Swiggy IPO can check the share allotment status online on Link Intime India Private Ltd’s website. They can also check the share allotment status on the official websites of the BSE and the NSE.
The IPO was oversubscribed 3.59 times led by Qualified Institutional Buyers (QIBs) who subscribed to the public offer over 6 times. The retail investors followed the indicators by oversubscribing 1.14 times on the final day. The Non-Institutional Investor (NII) segment was subscribed 41 per cent as of the final day data collected from the Bombay Stock Exchange.
Swiggy IPO GMP Status
As of November 10, the grey market premium (GMP) for the public issue is at Re 1 per share. Considering the upper price band limit of the share at ₹390, the shares are expected to be listed on the domestic stock indices at ₹391 per share, a gain of 0.26 per cent, according to Investorgain.com.
Grey Market Premium (GMP) shows investors’ willingness to pay more for a public issue. The GMP for Swiggy’s public issue fell down to Re 1 over time. The IPO’s GMP was at ₹12 on the day of the anchor round, i.e. on Tuesday, November 5, when it raised ₹5,085 crore from its anchor investors prior to the public bidding.
About Swiggy IPO
Swiggy Limited uses technology to offer several services, including food delivery, quick commerce with its Instamart segment for groceries and other items, out-of-home restaurant reservations with its Dineout segment, event bookings with the SteppinOut service, and product pick-up or drop-off services with its Genie operations.
The IPO closed for public subscription on Friday, November 8, and it had opened for bidding on Wednesday, November 6. The company had set the price band for the public offer at the range of ₹371 to ₹390 per share, with a lot size of 38 shares per lot.
The food delivery and quick commerce platform aims to use the proceeds from the public issue to fund investment in the material subsidiary, Scootsy, investment in technology and cloud infrastructure, and brand marketing.
