What is the Swiggy IPO? An Overview
Swiggy, one of India’s most prominent food delivery platforms, is set to go public with its much-anticipat IPO. This offering comes with a combination of a fresh issue of shares worth Rs 4,500 crore and an Offer for Sale (OFS) of Rs 6,800 crore. The IPO opened for subscription from November 6 to November 8, 2024, and was heavily subscribed, with the offering getting oversubscribed 3.59 times. Despite this,
the Swiggy share price in the grey market is indicating a muted response, which has led many to wonder about the Swiggy IPO’s true potential.
The company is set to list on the BSE and NSE on November 13, 2024, marking a major milestone for both Swiggy and the Indian food delivery sector.
How to Check Your Swiggy IPO Allotment Status
One of the most crucial steps for IPO investors is to check their Swiggy IPO allotment status after the offering is closed. Here’s a simple, step-by-step guide on how to check if you’ve received an allotment:
Step 1: Visit the BSE Website
To check your Swiggy IPO allotment status, you can first visit the official BSE website. Go to:
https://www.bseindia.com/investors/appli_check.aspx.
Step 2: Select IPO Details
- Under “Issue Type,” select Equity.
- In the “Issue Name” dropdown, select Swiggy Ltd.
Step 3: Enter Your Details
Enter your application number or PAN (Permanent Account Number). This will help retrieve the status for your specific application.
Step 4: Verify and Search
Tick the box to verify you’re not a robot, then click on Search. Your Swiggy IPO allotment status will appear on your screen.
Alternatively, you can visit Link Intime India’s portal to check the status directly:
https://linkintime.co.in/initial_offer/public-issues.html.
Swiggy IPO GMP and What It Means for Investors
As we move closer to the Swiggy IPO listing date, investors are eagerly watching the grey market for any signs of the stock’s performance. Swiggy share price in the grey market has been hovering just Rs 1 above its issue price, indicating a 0.26% GMP. This slight premium suggests that the market is expecting a muted listing,
or possibly even a discount, on November 13.
For context, the grey market premium (GMP) is a measure of how much more investors are willing to pay for the stock before it lists officially. Earlier in October, Swiggy’s GMP was as high as Rs 25,
reflecting stronger market sentiment. However,
the recent dip in market sentiment and the volatility in stock indices have resulted in a decline in GMP, which could point to a more cautious outlook for Swiggy on listing day.
What Does the Swiggy IPO Funds Allocation Look Like?
Swiggy plans to use the funds raised from this IPO in multiple ways,
which will play a crucial role in shaping the company’s future. Here’s a breakdown of how the company plans to allocate the funds:
- Debt Repayment: Rs 137.41 crore will go toward paying off debts in its subsidiary, Scootsy.
- Expansion: Rs 982.40 crore will use to expand its Dark Store network, which is crucial for Swiggy’s quick-commerce operations.
- Technology and Marketing: Rs 586.20 crore will invest in upgrading technology, while Rs 929.50 crore will be used for brand marketing and promotion.
Additionally, some funds will go toward general corporate purposes and inorganic growth strategies.
When is the Swiggy IPO Listing Date?
The much-awaited Swiggy IPO listing date is November 13, 2024. On this date,
Swiggy shares will be officially listed on both the BSE and NSE. The performance of the Swiggy share price on this day will give investors an idea of how the stock will behave in the long term.
The Swiggy IPO listing will also mark a significant moment for the food delivery sector in India,
as it will be the first time that a major player other than Zomato will publicly trade. Whether Swiggy’s performance will outshine Zomato’s remains to seen, but for now,
all eyes are on the Swiggy IPO listing date.
Grey Market Trends and What to Expect from the Swiggy Share Price
As of now, Swiggy share price in the grey market is trading at a modest premium of Rs 1. While this doesn’t suggest an overwhelming demand,
it does reflect investor caution. The low GMP could indicate that Swiggy’s IPO listing date might not see the kind of explosive growth some investors were hoping for. However,
market experts suggest that Swiggy IPO allotment status could still yield positive returns in the long run if the company meets its growth targets.
Historically, IPOs that show muted grey market performance can surprise investors post-listing,
especially when backed by strong fundamentals like Swiggy’s. The company’s innovative approach to the food delivery market and its growing quick-commerce segment are expect to key drivers of long-term growth.
Should You Invest in Swiggy’s IPO?
With the Swiggy IPO allotment status and Swiggy share price trends closely tied to market sentiment, investors are left wondering if this is the right time to invest. On the one hand,
Swiggy is a dominant player in the food delivery space with strong growth potential. On the other hand,
the muted GMP and market volatility could cause short-term dips in the stock price.
For those who have already participated in the IPO, checking your Swiggy IPO allotment status will be crucial. If you’ve allott shares,
monitoring the Swiggy IPO listing date will provide insight into the stock’s initial performance and the broader market’s reaction to its debut.
What Happens After the IPO Allotment Status is Announce?
Once the Swiggy IPO allotment status is finalize, investors will receive updates via their registered bank accounts. They will be able to see if they’ve received an allotment or if they need to wait for the next opportunity to invest. The Swiggy share price on listing day will also play a major role in shaping the next steps for the company.
If the stock lists higher than the issue price, it will seen as a positive sign for Swiggy future. However, if the listing is flat or negative, investors may reconsider their strategies.
Read More: Asian Paints Share Plummet: Understanding the Downgrades and Market Impact
Conclusion
As Swiggy IPO listing date approaches, there’s a sense of anticipation among investors who are eager to see how the stock will perform on the public market. While the current Swiggy share price in the grey market suggests a cautious listing,
the company’s long-term growth prospects in the booming food delivery and quick-commerce sectors could drive strong performance once the market settles.
Make sure to check your Swiggy IPO allotment status and stay updated on market conditions. No matter the initial listing outcome, Swiggy’s story is just beginning,
and it’s a company that could shape the future of the Indian tech space.
