Swiggy IPO has been subscribed 1.01 times so far on day three. The IPO opened on Wednesday saw a muted response from investors with a 35 percent subscription. Priced at ₹371-390 with a lot size of 38 shares, the IPO closes today, November 8, 2024.
As at 12.45 pm on day three, the QIB has been subscribed 1.34 times, NIIs 0.38 times, retail portion booked 0.97 times and employee portion 1.37 times.
Investors selling in the OFS included Accel India IV (Mauritius) Ltd, Apoletto Asia Ltd, Alpha Wave Ventures, LP, Coatue PE Asia XI LLC, DST EuroAsia V BV, Elevation Capital V Ltd, Inspired Elite Investments Ltd, MIH India Food Holdings BV , Norwest Venture Partners VII-A Mauritius and Tencent Cloud Europe BV.
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Ahead of the IPO, the food delivery platform mobilized ₹5,085 crore from anchor investors, allotting 13.04 crore shares to 151 funds at ₹390.
The IPO targets ₹11,327.43 crore through a combination of fresh issue worth ₹4,499 crore and offer for sale of 17.51 crore shares worth ₹6,828.43 crore.
Up to 75 per cent of issue is reserved for qualified institutional bidders, 15 per cent for non-institutional investors (HNIs) and 10 per cent for retail investors. The company has also reserved 750,000 shares for employees, which will get a discount of ₹25 from the issue price.
New World Fund Inc, Government Pension Fund Global, Nomura Funds Ireland Public Limited Company, Fidelity Funds, BlackRock, Allianz Global Investors Fund and Schroder International, were the top anchor investors.
Domestic fund houses such as ICICI Prudential Mutual Fund (MF), SBI Mutual Fund, HDFC Life Insurance Company Ltd, SBI Life Insurance Co. Ltd and ICICI Prudential Life Insurance Company Ltd were also allotted shares in the anchor round.
Kotak Mahindra Capital Company, Citigroup Global Markets India, Jefferies India, Avendus Capital, JP Morgan India, BoFA Securities India, and ICICI Securities are the book-running lead managers of the IPO.
Swiggy-rival Zomato stock traded flat on NSE at ₹256.79 as at 12.42 pm.