Swiggy IPO 2024 live updates: The much-talked-about Swiggy IPO opened on November 06 and will close on November 08. The price band for the Swiggy IPO has been set between Rs 371 – 390 per equity share. The IPO has been fully subscribed on Day 03. Retail investors booked the issue 0.97 times while QIBs drove the issue by subscribing 1.52 times.
The food-delivery company has incurred net losses in each year since incorporation. It has negative cash flows from operations.
Kotak Mahindra Capital Company, Citigroup Global Markets India, Jefferies India, Avendus Capital, J.P. Morgan India, BoFA Securities India, and ICICI Securities are the book-running lead managers of the IPO.
Swiggy IPO 2024 live updates: Check date, time, IPO listing, subscription status, gmp, review
Swiggy IPO 2024 Live Updates: InCred Equities on Swiggy IPO
“We recommend subscribing to the IPO as favourable scale and long-term opportunities in quick commerce provide growth runaway while the food delivery vertical has the potential to improve the margin and cash flow going ahead,” said InCred Equities.
Swiggy IPO 2024 Live Updates: GMP Update
The grey market premium of Swiggy has fallen to 1.5% from 3% earlier. It indicates a muted listing gains for the stock. The grey market premium is an unregulated market where shares trade illegally ahead of listing.
Swiggy IPO 2024 Live Updates: Swiggy IPO priceband
The price band for Swiggy IPO is set at Rs 371 – 390 per share. Retail investors can apply for minimum lot size of 38 shares for a minimum investment of Rs 14,820.
Swiggy IPO 2024 Live Updates: Lemonn on Swiggy IPO
“Almost 50% valuation compared to Zomato gives some comfort although it should not be considered as an arbitrage in valuation. If Swiggy’s EBITDA catches up to 3-4% in the food delivery business, which is currently at 1% and Average Order Value (AOV) improves to Rs. 550-600 levels in quick commerce with higher non-grocery share, we can see bridging in the valuation gap. However, this should not be expected in the near term,” said Gaurav Garg, Research analyst at Lemonn.