ADVERTISEMENT

Swiggy IPO Date: Offering Likely To Launch On Nov. 6

On offer in the Swiggy IPO is a fresh issue of Rs 3,750 crore and offer for sale of 18.53 crore shares.

<div class="paragraphs"><p>Swiggy is likely to launch its initial public offering as early as Nov. 6 (Source: Swiggy)</p></div>
Swiggy is likely to launch its initial public offering as early as Nov. 6 (Source: Swiggy)

Swiggy Ltd. is likely to launch its initial public offering as early as Nov. 6, according to people familiar with the matter.

The price band for the $11.2 billion offering is likely to be announced in the next two days, and the IPO would be launched on Nov. 6, the people cited above said.

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 3,750 crore and offer for sale of 18.53 crore shares, according to the updated draft red-herring prospectus filed with the markets regulator this year. The food delivery player is anticipated to increase the size of the fresh issue.

Opinion
Swiggy IPO: Is $10 Billion Valuation Cheap Or Expensive?

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 book running 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.

Opinion
Swiggy Four To Six Quarters Behind Zomato, Says Macquarie

Regarding the issue's proceeds, Swiggy plans to allocate Rs 982 crore toward its subsidiary Scootsy and expand Instamart’s dark store network for quick commerce.

Additionally, it will invest Rs 586 crore in technology and cloud infrastructure and set aside Rs 929 crore for brand marketing and business promotion. Around Rs 137 crore will also be used to reduce debt.

Opinion
Swiggy Follows Zomato, Hikes Platform Fees To Rs 10