1 month ago
Swiggy Ltd. is expected to finalise the allotment basis of its shares on Monday, November 11. This means that the investors who subscribed to the online food and grocery delivery company’s initial public offering (IPO) will likely be able to check the status of their share allotment tomorrow.
Swiggy’s public issue worth ₹11,327.43 crore received a strong response from investors on the final day of bidding on November 8. The issue was booked over 3.59 times at the end of the bidding process, with qualified institutional bidders (QIBs) booking their allocation 6.02 times and the non-institutional investors (NIIs) category subscribing to the issue 41%. The retail investors category in Swiggy IPO was booked 1.14 times.
The IPO was open for subscription for three days from November 6 to November 8, 2024.
The investors, awaiting share allocation, can check the allotment status on the NSE and BSE. The IPO share allotment status can also be checked on the official website of the issue registrar, Link Intime India.
Steps to check share allotment status on the BSE website:
1. Open the BSE IPO allotment status page.
2. Select 'Equity' as the issue type.
3. Choose 'Swiggy Ltd ' from the drop-down menu.
4. Enter your IPO application number or PAN number.
5. Click 'Search' to view your allotment status.
Here’s how to check IPO share allotment status on the registrar's website:
1. Go to Link Intime India website at https://www.linkintime.co.in/.
2. Click on the Investor Services link on the main menu and select Public Issues.
3. Choose 'Swiggy Ltd' from the list of IPOs.
4. Select any of these: PAN, Application Number, DP/Client ID, or Account No/IFSC.
5. Enter details and click 'Submit' to check your IPO allotment status.
Further, the allotment status can also be checked online via the NSE website after registration. Successful applicants will likely receive shares in their Demat accounts by November 12. The listing date for shares of Swiggy on the BSE and NSE has tentatively been fixed as November 13, 2024.
About Swiggy IPO
Swiggy aimed to raise ₹11,327.43 crore through a mix of fresh issue of 115,358,974 shares, aggregating to approximately ₹4,499 crore, and an offer for sale (OFS) of 1,75,087,863 shares of ₹1 each, aggregating to ₹6,828.43 crore.
The price band for the IPO was set at ₹371 to ₹390 per share. The minimum lot size for a single application was 38 shares, taking the minimum investment for retail buyers to ₹14,739.
Nuvama Wealth Management Limited, ICICI Securities Limited, JM Financial Limited, Kotak Mahindra Capital Company Limited and Motilal Oswal Investment Advisors Limited were appointed as the book-running lead managers of the IPO.
Founded in 2014, Swiggy collaborates with over 2,00,000 restaurants across India to deliver food in the world's most populated country, according to its website. Swiggy’s competitors include Zomato Ltd., and Tata Group’s BigBasket, all of which are key players in India’s rapidly expanding quick commerce sector.
