365Telugu.com online news,Hyderabad, November 4th, 2024: Swiggy Limited, renowned as India’s pioneering on-demand convenience platform, announces the opening of its initial public offering (IPO) on Wednesday, November 6, 2024. The bidding for anchor investors will take place one day prior, on Tuesday, November 5, 2024, while the offer will conclude on Friday, November 8, 2024.
The fixed price band for the offer is set at ₹371 to ₹390 per equity share of ₹1 face value. Bids can be made for a minimum of 38 equity shares, with additional shares in multiples of 38.
The IPO includes a fresh issue of equity shares aggregating up to ₹44,990 million, along with an offer for sale of up to 175,087,863 equity shares by selling shareholders. An allocation of up to 750,000 equity shares, not exceeding 5% of the post-offer paid-up equity share capital, is reserved for eligible employees under the Employee Reservation Portion.
The shares offered through the Red Herring Prospectus will be listed on BSE Limited (BSE) and National Stock Exchange of India Limited (NSE). This offering adheres to Rule 19(2)(b) of the SCRR, in compliance with SEBI ICDR Regulations.
The offer is conducted via a book-building process, ensuring that at least 75% of the net offer is available for qualified institutional buyers (QIBs), with up to 60% of this portion allocated to anchor investors at a price set during the anchor allocation process.
Bidders are required to utilize the Application Supported by Blocked Amount (ASBA) method, ensuring that the bid amounts are blocked in their respective accounts. The book running lead managers (BRLMs) for the IPO include Kotak Mahindra Capital Company, J.P. Morgan India, Citigroup Global Markets India, BofA Securities India, Jefferies India, ICICI Securities, and Avendus Capital.