Swiggy Limited, India’s leading on-demand convenience platform, has launched its much-anticipated Initial Public Offering (IPO) today, with the offer opening on November 06, 2024, and closing on November 08, 2024. The company has fixed the price band for the equity shares at ₹371 to ₹390 per share of a face value of ₹1.
The IPO comprises a fresh issue of equity shares worth up to ₹44,990 million and an offer for sale of up to 175,087,863 shares by existing shareholders. The offer includes a reservation of up to 750,000 shares for eligible employees, amounting to 5% of the post-offer paid-up equity capital.
Investors can place bids for a minimum of 38 shares and in multiples thereafter. The shares are proposed to be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE). The IPO is being managed by a consortium of lead managers, including Kotak Mahindra Capital Company, J.P. Morgan India, Citigroup Global Markets India, and others. The company has also introduced a Book Building Process for the offer.