Today, on Monday, November 11, 2024, the basis of allotment for Swiggy’s much-anticipated IPO will be finalized. Swiggy, one of India’s leading food and grocery delivery platforms, recently concluded its IPO subscription window, which opened for three days and attracted notable investor interest. The IPO’s Rs 11,327.43 crore public offering was priced in a range of Rs 371-390 per share, with a lot size of 38 shares. According to NSE data, the IPO received bids for 57,53,07,992 shares, compared to the 16,01,09,703 shares available, resulting in an oversubscription of 3.59 times.
Swiggy IPO Final Subscription Status
Swiggy’s IPO saw the highest demand from Qualified Institutional Buyers (QIBs), who oversubscribed their portion by 6.02 times. Retail investors also showed enthusiasm, with a subscription rate of 1.14 times. However, Non-Institutional Investors (NIIs) participated at a relatively lower rate, subscribing only 0.41 times. The portion reserved for employees received a positive response, being oversubscribed by 1.65 times by the last day. This strong interest from QIBs reflects institutional confidence in Swiggy’s long-term growth potential, though relatively lower interest from NIIs indicates some cautiousness among non-institutional investors.
Swiggy IPO Allotment Status
Once the allotment is finalized, investors can verify their allotment status through multiple channels. The official websites of BSE, NSE, and Link Intime India, which serves as the registrar for Swiggy’s IPO, will display the status. To check the allotment status directly, investors can use the following resources:
- BSE’s IPO allotment page
- Link Intime India’s IPO status page: Link Intime India IPO Status
- NSE’s IPO allotment page: NSE IPO Allotment Status
These portals provide a streamlined process for investors to confirm if they have received an allotment, enabling them to plan for the stock’s upcoming listing.
Swiggy IPO Grey Market Premium (GMP) Today
Ahead of the listing, Swiggy’s IPO shares have seen subdued activity in the grey market, with a premium (GMP) hovering around Re 1 above the upper issue price of Rs 390 per share. This translates to a marginal GMP of 0.26 percent, indicating limited speculative interest in Swiggy shares before the official market debut. Analysts suggest that the muted grey market response may reflect broader market conditions, potential valuation concerns, or simply investor caution in response to recent volatility in the IPO market.
The grey market is often regarded as an indicator of market sentiment toward a new listing, although it may not always align with actual listing-day performance. While the small premium suggests restrained optimism, Swiggy’s extensive brand reach and diversified service portfolio may contribute to positive momentum once the stock officially lists.
Expected Listing Price of Swiggy IPO Shares
Swiggy’s shares are set to debut on the BSE and NSE on Wednesday, November 13, 2024. Based on the current GMP and market sentiment, analysts anticipate that Swiggy shares may list around Rs 391, a premium of just Re 1, or 0.26 percent, above the upper band of the issue price. While the modest premium reflects a cautious market response, there remains potential for price movements post-listing as institutional and retail investors react to the company’s business fundamentals and growth prospects.
More Read
About Swiggy and its Market Position
Founded as an online food delivery service, Swiggy has since expanded to encompass grocery delivery through Swiggy Instamart and other on-demand services via Swiggy Stores. Its ability to connect consumers with restaurants and provide last-mile delivery solutions has made it a dominant player in India’s food-tech and quick-commerce sector. Swiggy’s growth is fueled by rising demand for food and grocery delivery, especially among urban customers. The company’s success stems from a strong delivery network, robust technology, and a vast restaurant partner base, all of which position it well in India’s burgeoning gig economy.
Despite the promising business model, Swiggy faces challenges, including regulatory scrutiny, competition from rival platforms like Zomato, and the pressures of managing high operational costs in a low-margin industry. Swiggy’s IPO represents an opportunity for investors to gain exposure to India’s rapidly expanding online delivery market. With its established brand and diversified offerings, Swiggy is positioned to capitalize on the growing demand for convenience and digital services.
Today’s IPO allotment marks a significant step for Swiggy as it enters the public markets. Although the muted grey market premium suggests a cautious investor sentiment, Swiggy’s extensive customer base and innovative service offerings underscore its potential in the Indian market. Investors will be closely watching the listing on November 13, 2024, as the stock’s performance could set the tone for future tech and service-based IPOs in India.
