Swiggy IPO: The eagerly awaited Swiggy IPO allotment date has finally arrived, with the share allocation process concluding today, November 11. Swiggy, one of India’s top food delivery platforms, drew significant interest from investors. The initial public offering (IPO) closed on November 8, 2024, and was oversubscribed by 3.59 times overall. This article covers everything from the subscription details to how to check the Swiggy IPO allotment status on various platforms.
Swiggy IPO Allotment: Key Highlights
Swiggy’s IPO allotment has gathered attention from diverse investor groups:
•Oversubscription: The IPO received a strong response, being oversubscribed 3.59 times overall.
•Qualified Institutional Buyers (QIBs): 6.02 times
•Retail Individual Investors (RIIs): 1.14 times
•Non-Institutional Investors (NIIs): 41% of the total subscriptions
•Employee Quota: 1.65 times
For investors who receive allotments, shares are expected to be credited to their demat accounts by November 12, 2024, while refunds will also begin processing on that date for those who did not receive shares. Swiggy is scheduled to list on the stock exchange on November 13, 2024.
How to Check Swiggy IPO Allotment Status
Once the allotment is finalized, investors can check their allotment status on multiple platforms, including the registrar’s website (Link Intime India Private Ltd) and BSE and NSE portals. Here’s a step-by-step guide for each platform:
1. Checking on Link Intime India Website
The official registrar for Swiggy’s IPO, Link Intime, provides a straightforward process:
1.Visit the Link Intime IPO page: Link Intime Public Issues.
2.Select the IPO: Use the dropdown to select “Swiggy IPO” once the allocation is complete.
3.Choose Search Criteria: You can check status via Application Number, Demat Account Number, or PAN.
4.Select Application Type: Choose either ASBA or non-ASBA.
5.Enter Details: Fill in the relevant details based on your chosen search method.
6.Complete Captcha: Enter the captcha code and submit.
2. Checking on BSE Website
The Bombay Stock Exchange (BSE) provides a straightforward way for investors to check allotment status online:
1.Visit BSE’s IPO Status Page: BSE Allotment Check.
2.Select Issue Type: Choose “Equity” in the dropdown for Issue Type.
3.Pick the Issue Name: Select “Swiggy IPO” from the list.
4.Enter Details: Enter your PAN or application number.
5.Captcha Verification: Check the “I am not a Robot” box and submit.
3. Checking on NSE Website
National Stock Exchange (NSE) also offers an online portal for IPO allotment checks:
1.Visit NSE’s Allotment Page: NSE IPO Login.
2.Register Using PAN: Select “Click here to sign up” and use your PAN to register.
3.Login to Check Status: After logging in, enter the relevant details to access allotment information.
Grey Market Premium (GMP) and Expected Listing Price
The Swiggy IPO’s current Grey Market Premium (GMP) stands at +1, indicating a marginal premium over its IPO price of ₹390. This minimal GMP hints at a modest listing, with an expected listing price around ₹391 per share. While GMP offers a useful gauge, actual listing price fluctuations will depend on broader market sentiment and demand on the listing day.
Key Factors Affecting Swiggy’s GMP:
•Lowered Investor Sentiment: Recent IPOs with mixed performances have dampened sentiment, reflected in Swiggy’s reduced GMP from ₹25 to ₹1.
•Market Dynamics: Grey Market activities reveal investors’ limited willingness to pay a premium over the issue price.
Swiggy IPO Details
Swiggy’s IPO consists of both a fresh issue and an Offer-for-Sale (OFS):
•New Issue: ₹4,499 crore
•OFS: 175,087,863 equity shares from prominent stakeholders, including Accel India, Apoletto Asia, Alpha Wave Ventures, and Tencent Cloud Europe.
The lead managers for the Swiggy IPO include top institutions such as Kotak Mahindra Capital, Citigroup Global Markets, Jefferies India, and J.P. Morgan. These financial giants reflect the broad institutional backing Swiggy attracted with its IPO offering.