Anchor investors will be able to bid for shares on November 5.
Swiggy, a leading online food ordering company, may launch its initial public offering (IPO) on November 6. Sources gave this information on Monday. The company is planning to raise Rs 11,300 crore through IPO. According to PTI news, the price range for shares under the IPO will be between Rs 371 and Rs 390. Sources said the issue will close on November 8 and anchor investors will be able to bid for shares on November 5.
Documents were filed on 30 April
According to the news, Swiggy had filed the documents on April 30 through the confidential pre-filing route. He said the share of the fresh issue in the company’s Rs 11,300 crore IPO is Rs 4,500 crore, while an offer for sale (OFS) worth Rs 6,800 crore will be made.
Shareholders in OFS
According to Livemint news, the shareholders participating in the OFS include Accel India IV (Mauritius) Limited, Apoleto Asia Limited, Alpha Wave Ventures, LP, Coatue PE Asia XI LLC, DST EuroAsia V BV, Elevation Capital V Limited, Inspired Elite Investments Ltd., MIH India Food Holdings B.V., Norwest Venture Partners VII-A Mauritius and Tencent Cloud Europe B.V. Are included. Let us tell you, early investors like Accel, Elevation Capital and Norwest Ventures are expected to get returns of up to 35 times on the shares they are selling, while SoftBank remains a consistent investor.
swiggy valuation
Swiggy, founded in 2014, had a valuation of around US$13 billion as of April. According to global startup data platform Traxon, it had annual revenues of US$1.09 billion as of March 31, 2023, and employed more than 4,700 people. In September, SEBI had approved Swiggy’s confidential offer document. The company had initially filed its offer document on April 30 through the confidential pre-filing route.
Last April, Swiggy won shareholders’ approval for an IPO to raise ₹10,414 crore through issuance of fresh equity shares and offer for sale. A special resolution was passed at an extraordinary general meeting on 23 April.
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