Swiggy’s IPO has been the most-awaited in recent times as the allotment status is slated to be closed today, November 11. Following the closing date on November 8, the subscription received by Swiggy was a whopping 3.59 times overall, and so, the interest gathered among investors of all categories is quite high. We walk you through how to check your allotment status along with some other insights like Swiggy’s IPO details, grey market premium (GMP) trends and market expectations.
Swiggy IPO Summary
Swiggy’s IPO, which was open for subscription between 6 November and 8 November, closed with a humongous interest, particularly from QIBs who oversubscribed their portion 6.02 times. As for the RIIs, their subscriptions stood at 1.14 times, which indicates a resonant response from the smaller investors too. This offering consisted of both a fresh issue and an Offer for Sale.
All subscriptions in lightning-speed
QIBs: 6.02 times subscribed
NIIs: 0.41 times subscribed
RIIs: 1.14 times subscribed
Employee Quota: 1.65 times subscribed
How to Check Swiggy IPO Allotment Status
In case you have applied for the Swiggy IPO, here’s a step-by-step guide that will allow you to check the allotment status through various platforms:
1. Link Intime India (IPO Registrar)
Link Intime India is the registrar for Swiggy’s IPO process wherein all allotment-related information update results can be checked. How to check on Link Intime India’s site:
Step 1: Visit Link Intime India’s IPO page.
Step 2: Choose Swiggy IPO as soon as the link appears.
Step 3: Select one of the options between Application Number, Demat Account, or PAN.
Step 4: Now, choose ASBA or Non-ASBA.
Step 5: Fill in all the details and complete the CAPTCHA.
Step 6: Fill out the form to access the allotment.
2. BSE Website
Investors can check the allotment status on the BSE website given below:
Step 1: Go to the allotment link of BSE
Step 2: Select “Equity” from the dropdown for “Issue Type.”
Step 3: Under “Issue Name,” select “Swiggy IPO”
Step 4: Input PAN or application number.
Step 5: Verify that you are a human and click “Submit” to get the result.
3. NSE Website
Or, check the allotment status directly from the NSE website as well. How is that? Here is the way:
Step 1: NSE IPO allotments webpage
Step 2: Registered on that page by PAN.
Step 3: Proceed to log in using the usual credentials.
Step 4: Check the allotment status for Swiggy IPO
Important Dates and What Next
IPO allotment finalised today, 11 November. So here is what next:
- Refund Initiation: November 12, for applicants who are not getting allotment.
- Credit of Shares to Demat Accounts: November 12 for eligible applicants
- Listing Date: November 13, on that day Swiggy shares will hit the trading platform of the stock exchanges
Swiggy IPO Description
The Swiggy IPO consists of a fresh issue of Rs 4,499 crore and an Offer for Sale by existing shareholders. The OFS has covered 175,087,863 shares; selling stakeholders include prominent players such as Accel India IV (Mauritius) Ltd, Tencent Cloud Europe B.V., Apoletto Asia Ltd, and Norwest Venture Partners, amongst others.
Principal Underwriters and Managers
Swiggy’s IPO is based on the support of financial institutions. Kotak Mahindra Capital Company, Jefferies India, Citigroup Global Markets, and others are the lead managers for this issue. The official registrar of the process is Link Intime India Private Ltd.
Grey Market Premium (GMP) Movements
- Grey Market Premium of Swiggy:
In the last couple of days, the GMP of Swiggyhas been on the swings and fluctuating with mixed signals for the market. Currently, the GMP is +1 in the case of Swiggy which means, at Rs 390, there would be an addition of Rs 1 over the IPO price band. Information is as follows:
GMP-based estimated listing price is calculated and found to be about Rs 391 with the actual 0.26% over the issue price.
- Grey Market Trends:
GMP in the last 19 sessions has been moving down with fluctuating figures from Rs 0 to Rs 25, hinting at fluctuations in investor expectations
Grey Market Premium is an unofficial guide reflecting investors’ interest. What investors are ready to pay above the IPO price? A good GMP can give a good listing chance, but it is no assurance.
Swiggy has displayed tremendous growth momentum, particularly in the last fiscal. The company reported significant jumps in revenues as a sharp narrowing of losses helped make it better placed before the investors. Swiggy’s losses have come down to Rs 2,350.2 crore in FY24 from Rs 4,179.3 crore in the previous fiscal; the rise in revenue increases is at 36% to Rs 11,247.4 crore. This kind of trajectory has helped position Swiggy as a leader in India’s competitive food delivery market.
Q2 Financial Performance
Swiggy, the food ordering and delivery firm from India, announced a deeper quarterly loss at Rs 611 crores in Q2 FY24, up from the Rs 564 crores loss reported for Q2 FY23. However, revenue increased 35% from last year’s figures to Rs 3,222.2 crores.
Market Outlook and Potential
Swiggy’s market debut is during a series of Indian tech IPOs, marking a time of increased investor interest in high-growth technology and e-commerce companies. Two major competitors of Swiggy-Scootsy, now Zomato, are sure to keenly watch the performance of the latter’s stocks.
According to analysts, Swiggy’s robust presence in the market and significant customer base will be a good sign for future growth. The IPO funds will be used for strategic objectives, as outlined below:
- Investment in the Subsidiary Scootsy:
Rs 1,343.5 crore
- Technology and cloud infrastructure:
Rs 703.4 crore
- Brand marketing and promotion:
Rs 1,115.3 crore
Swiggy is putting these funds into these areas in order to further consolidate its place, streamline operations, and take a larger share of the market.
Key Takeaways
Investors are going to track Swiggy’s IPO allotment today since many expect it to sail through with good subscriptions and buoyancy in the market. While the grey market premium hints at modest gains, Swiggy’s healthy financial performance and strategic growth initiatives are strong indicators of long-term potential. All eyes will now be on its performance as Swiggy enters the stock market, particularly on November 13, to see how its listing impacts India’s competitive food delivery and e-commerce landscape.
It is a listing that would form a goldmine for those who intend to bet on the fast-moving food delivery sector. Swiggy boasts substantial capital from institutional investors and is set up with a healthy financial platform, ready to make its mark in the Indian stock market, marking maturity from a small Indian startup to one of the giants in India’s digital economy.
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