Swiggy IPO GMP: IPO will open for subscription today, check today’s GMP price

Swiggy Reuters 2 1730804484

Swiggy IPO GMP: The IPO of online food delivery app Swiggy will open for subscription today i.e. Wednesday, November 6, and will close on Friday, November 8. Swiggy wants to raise a total of Rs 11,327.43 crore from this IPO. This company, which takes and delivers online food orders, will issue 11,53,58,974 new shares worth Rs 4499 crore under its IPO. While the company’s promoters will issue 17,50,87,863 crore shares worth Rs 6828.43 crore through OFS.

Retail investors will get 38 shares in one lot.

The company has fixed a price band of Rs 371 to Rs 390 for each share with a face value of Rs 1 under this IPO. Swiggy employees will be given a discount of Rs 25 on each share. Retail investors applying for the IPO will have to invest at least Rs 14,820, in which they will be given 38 shares in one lot. This is a mainboard IPO, which will be listed on both the major exchanges of the Indian stock market, BSE and NSE.

The IPO will be listed on the stock exchange on November 13

Swiggy has reserved a 75 percent quota for QIB, 10 percent for retail investors, and 15 percent for NII under its IPO. After the IPO closes on November 8, the shares will be allotted on Monday, November 11. The shares will be credited to the demat accounts of investors the very next day i.e. on Tuesday, November 12. Finally, the IPO will be listed on the stock market on Wednesday, November 13.

What is the status of the gray market premium?

Only a few hours are left for Swiggy’s IPO to open, but there is no significant response to the company’s shares in the grey market yet. According to websites monitoring the grey market premium of shares, the GMP price of the company’s shares is running at Rs 7 (1.79 percent) on Tuesday, November 5. However, it is believed that the GMP price of Swiggy’s shares can go up and down according to the subscription.