Swiggy IPO To Open on November 6: Key Takeaways From RHP

The much-awaited Swiggy IPO is set to open on November 06, 2024. The Quick Commerce Swiggy ₹11,327.43 crore IPO closes on November 08, 2024. Swiggy IPO is a combination of a fresh issue of 11.54 crore shares aggregating to ₹4,499.00 crores and an offer for sale of 17.51 crore shares aggregating to ₹6,828.43 crores.

Lately, Swiggy Limited has filed the Red Herring Prospectus with the market regulator, SEBI, which contains all the significant details about the public offering.  In this blog, let us have a look at the key takeaways from the Swiggy RHP:

Key Takeaways From Swiggy RHP

• Swiggy IPO allotment is likely to be finalised on November 11, 2024.
• Post IPO bidding, Swiggy IPO will be listed on BSE and BSE with a listing date of November 13, 2024.
• Swiggy IPO price band has been set at ₹371 to ₹390 per share.

Objective of Swiggy IPO

As per RHP, Swiggy has decided to use the net proceeds towards funding the following objects:

• Investment in the Material Subsidiary, Scootsy, for repayment or pre-payment, in full or in part, of certain or all of its borrowings;
• Investment in the Material Subsidiary, Scootsy, for (a) expansion of Dark Store network for Quick Commerce segment through setting up of Dark Stores; and (b) making lease/license payments for Dark Stores;
• Investment in technology and cloud infrastructure;
• Brand marketing and business promotion expenses for enhancing the brand awareness and visibility of its platform, across segments; and
• Funding inorganic growth through unidentified acquisitions and general corporate purposes.

Swiggy IPO GMP stood at  ₹18 as of October  30,  2024, 10:55 AM. This indicates a listing price of ₹408 with a price band of ₹390.00. The expected percentage gain/loss per share is 4.62%.

About Swiggy Limited

Founded in 2014, Swiggy Limited offers users a comprehensive platform accessible through a single app, enabling them to effortlessly search, select, order, and pay for food, groceries, and household goods. With a robust on-demand delivery network, Swiggy ensures quick and reliable delivery to customers’ homes. 

The company operates through five key business units: Food Delivery; Out-of-home consumption, which encompasses restaurant visits and events; Quick Commerce for on-demand grocery and household item delivery; Supply Chain and Distribution, focusing on B2B logistics and warehousing; and Platform Innovation, which drives new initiatives like Swiggy Genie and Swiggy Minis.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.