The tech-driven online food delivery giant, Swiggy kicked off its much-awaited Initial Public Offering (IPO) earlier this month. The IPO which opened for subscription on November 6 and closed on November 8.
Arch-rival of Zomato, Swiggy's Rs 11,327 crore public issue crore issue received a mixed response across investor categories, raising questions many questions among the investors.
The Numbers: Subscription Stats and What They Mean
The book-built issue saw an overall subscription of 3.59 times, with qualified institutional buyers (QIBs) securing a subscription of 6.02 times. The non-institutional investors (NIIS) subscription rate stood at 41 per cent while employee portion was booked at a rate of 1.65 times.
Even more telling was the lukewarm response from non-institutional investors, who are often high-net-worth individuals (HNIs).
On the other hand, the retail portion, intended for individual investors, was subscribed just 1.14 times.
Image used for representational purposes only | Image credit: Wikipedia (Representative)
Key Dates for Investors
For those who have invested in online food delivery giant Swiggy's IPO, the next step is the allotment process.
The company is expected to finalise the allotment on Monday, November 11.
Investors can check their allotment status online by visiting the registrar’s website, Link Intime India Private Ltd, or by visiting the BSE and NSE websites.
Furthermore, the successful bidders will see the shares credited to their demat accounts on Tuesday, November 12.
On the other side, if you do not receive an allotment, refunds will be processed on the same day.
Coming to the listing, it is expected that the Swiggy's shares be listed on the Indian bourses on on Wednesday, November 13.
Grey Market Trends
The grey market premium (GMP), a measure of demand before the stock officially lists, currently stands at Rs 1, according to investorgain.
As per this, the stock may Rs 391, slightly above the upper price band of Rs 390.
