Swiggy Ltd.'s eagerly anticipated mega IPO will be priced at the upper end of the range, at Rs 390 per share. The price range for each share is set at Rs 371 to Rs 390, according to a red herring prospectus filed with security market watchdog SEBI (Securities and Exchange Board of India).
Issue size and structure
An offer for sale (OFS) component of 175,087,863 shares and a new issuance of shares valued at Rs 4,499 crore comprise the Rs 11,327 crore initial share sale.
Anchor book dates and OFS sellers
Accel India IV (Mauritius) Ltd, Inspired Elite Investments Ltd, Apoletto Asia Ltd, Coatue PE Asia XI LLC, Alpha Wave Ventures, LP, DST EuroAsia V B.V., Elevation Capital V Ltd, MIH India Food Holdings B.V., Tencent Cloud Europe B.V., and Norwest Venture Partners VII-A Mauritius are all selling their shares through the OFS route. On November 5, the anchor investor bidding will begin.
Tentative dates for IPO
It is anticipated that the food delivery business will open its IPO for bidding between November 6 and November 8. The report stated that the goal of this eagerly awaited listing is to raise up to (USD 1.35 billion) approximately Rs 11,700 crore. In September, the company's IPO was approved by SEBI.
Subcription and listing timetable
After the bidding process ends on November 8, the shares will be allotted by November 11. The Swiggy IPO subscription period will begin on November 6.
Successful bidders' demat accounts will be credited on November 12 with shares and non-allottee refunds. The company's shares are expected to list on the BSE and NSE on November 13.
Use of IPO proceedings
The IPO documents state that the subsidiary Scootsy's debts will be settled with Rs 137.41 crore from the new issue. With Rs 559.10 crore set aside for the establishment of dark stores and Rs 423.30 crore for lease or licence payments, a further Rs 982.40 crore will be invested in growing Scootsy's dark store network in the quick commerce industry.
Additionally, the company intends to set aside Rs 586.20 crore for cloud infrastructure and technology, Rs 929.50 crore for business promotion and brand marketing, and Rs 929.50 crore for inorganic growth and general corporate purposes.
