Swiggy Limited, a leading online food delivery platform, is set to go public with its much-anticipated initial public offering (IPO) listing on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on November 13. The IPO has generated excitement in the market as it unlocks ₹9,000 crore worth of assets in the Employee Stock Ownership Plan (ESOP) for around 5,000 current and former employees, marking one of the largest such unlockings in an Indian startup.
Key IPO Highlights
- Millionaire Employees: The IPO is expected to usher around 500 Swiggy employees into the “crorepati” club through asset unlocks, making it a groundbreaking event for startup employees in India.
- Anchor Investor Funding: Swiggy has raised ₹5,085 crore from anchor investors ahead of the IPO.
- Price Range: The IPO price range is set at ₹371-₹390 per share.
- Funds Target: Swiggy aims to raise ₹11,327 crore through the IPO. This includes ₹4,499 crore from fresh share issuance and ₹6,828 crore from an Offer for Sale (OFS).
IPO Subscription Details
As per NSE data, Swiggy’s IPO received a strong response, with a 3.59 times overall subscription on its final day:
- Qualified Institutional Buyers (QIBs): Subscribed 6.02 times
- Retail Individual Investors (RIIs): Subscribed 1.14 times
- Non-Institutional Investors (NIIs): Subscribed 41%
Swiggy’s IPO has attracted significant interest, reflecting strong confidence in the company’s growth prospects. The high ESOP unlock and interest from anchor investors further highlight Swiggy’s potential for long-term growth in India’s food delivery market.
Key IPO Subscription Summary
| Investor Category | Subscription Level |
|---|---|
| Qualified Institutional Buyers | 6.02x |
| Retail Individual Investors | 1.14x |
| Non-Institutional Investors | 0.41x |
| Total Subscription | 3.59x |
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