Swiggy IPO Price Band Set At Rs 371-390
With an IPO price band of Rs 371-390, Swiggy Ltd. plans to strengthen its market position, attracting both retail and institutional investors as it competes with Zomato.
Swiggy Ltd. has set a price band of Rs 371-390 for its upcoming initial public offering on Nov. 6, according to sources.
Swiggy’s upcoming listing is one of the most anticipated this year, as it aims to expand its market reach and strengthen its position against competitors like Zomato. The company plans to attract more retail investors by listing at a relatively modest valuation.
On offer in the Swiggy IPO is a fresh issue of Rs 5,000 crore and an offer for sale of 18.53 crore shares, worth about Rs 6,666 crore, according to the updated draft red-herring prospectus filed with the market regulator this year.
Kotak Mahindra Capital Company Ltd., Citigroup Global Markets India Pvt. Ltd., Jefferies India Private Ltd., Avendus Capital Pvt. Ltd., JP Morgan India Pvt. Ltd., Bofa Securities India Ltd. and ICICI Securities Ltd. are the bookrunning lead managers of the Swiggy IPO, while Link Intime India Pvt. Ltd. is the registrar for the issue.
In September, Swiggy submitted the initial version of its updated draft red herring prospectus. A further revised version will later be submitted to the Registrar of Companies and the exchanges before the final RHP is filed. Earlier in April, Swiggy had confidentially filed for an IPO.
