Swiggy IPO subscribed 34% on Day 2

7 Nov 2024 , 03:37 PM

During the second day of the share sale on Thursday, Swiggy IPO had a 32% subscription rate. Based on data available with the BSE until 3.30 pm, the food delivery and quick-commerce major’s first share sale attracted bids for 5.41 crore shares out of the 16 crore shares on offer.

12% of the non-institutional investors’ portion was subscribed, compared to 81% of the retail individual investor (RII) quota. Previously, anchor investors gave the Bengaluru-based company Rs 5,085 crore.

Up until November 8, the public can subscribe for the company’s shares at a price between Rs 371 and Rs 390.

The company wants to raise Rs 11,327 crore through this IPO, which includes an offer for sale (OFS) of Rs 6,828 crore and a new issue of shares valued at Rs 4,499 crore.

Swiggy’s estimated valuation at the upper price range is approximately Rs 95,000 crore. By contrast, Zomato, a competitor that went public in July 2021, is currently valued at Rs 2.25 lakh crore.

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