Swiggy IPO to open next week: 10 things you need to know

The much awaited initial public offering (IPO) of Swiggy will open for bidding next week as retail investors eye the public listing looking to invest in the food delivery and quick commerce firm.
Founded in 2014, Swiggy Limited provides an accessible platform through a single app, allowing users to search, choose, order, and pay for food (Food Delivery) as well as groceries and household items (Instamart) with delivery straight to their doorstep through an on-demand partner network.
Swiggy operates five key business segments:
1. Food Delivery
2. Out-of-home consumption, covering restaurant visits and events
3. Quick Commerce, offering grocery and household item delivery on demand
4. Supply chain and distribution, covering business-to-business (B2B) deliveries, warehousing, logistics, and distribution for wholesalers and retailers
5. Platform innovation, introducing new initiatives such as Swiggy Genie and Swiggy Minis
Swiggy’s platform also supports restaurant reservations (Dineout), event bookings (SteppinOut), item pickups/deliveries (Genie), and other hyperlocal services (Swiggy Minis and more). Additionally, the company has a membership plan called “Swiggy One” that provides discounts and offers, and in-app payment options like the digital wallet “Swiggy Money,” “Swiggy UPI,” and a Swiggy-HDFC Bank credit card with added benefits.
Swiggy offers business enablement solutions to its restaurant partners, merchants (who sell groceries and household items on Swiggy), and brand partners, including analytics-driven tools to enhance their online visibility and customer base, fulfillment services for supply chain efficiency, and last-mile delivery support.
As of June 30, 2024, Swiggy’s Instamart had 557 Active Dark Stores in 32 cities in India, expanding to 605 Active Dark Stores across 43 cities by September 10, 2024 and the company employed a workforce of 5,401 people.
Subscription period: The IPO of Swiggy will be open for subscription from November 6 and closes on November 8, 2024.
Price band: The price band for the Swiggy IPO is set between Rs 371-390 per share.
Fundraising target: Swiggy IPO is a book-built issue worth Rs 11,327.43 crore.
Issue division: The IPO is a combination of fresh issue of 11.54 crore shares aggregating to Rs 4,499.00 crore and an offer for sale of 17.51 crore shares aggregating to Rs 6,828.43 crore.
Lot size: The minimum lot size for the application is not available as of now.
Allotment date: Finalisation of share allocation for the Swiggy IPO is expected on Monday, November 11, 2024.
Listing date: The shares of Swiggy are expected to list on stock exchanges on Wednesday, November 13, 2024.
Registrar: Link Intime India Private Ltd is the registrar for the issue of Swiggy IPO.
Listing platforms: The shares are proposed to be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).
Grey market premium (GMP): The grey market premium (GMP) for Waaree Energies IPO is Rs 0 as of the latest update.