The leading food and grocery delivery giant, Swiggy, raised ₹5085 crore from anchor investors. The anchor investors received shares at ₹390, the upper end of the price band of ₹371-390 per share set for the IPO (Initial Public Offering). According to sources, more than half of the anchor book has been allotted to domestic investors.
The anchor book witnessed great interest from domestic and international investors, receiving 25 times more bids than the shares on offer. Over 151 domestic and foreign investors, including BlackRock, Fidelity, Nomura, BNP Paribas, and Allianz Global, etc, subscribed to the ₹5085 crore anchor portion. Indian Investors were SBI Mutual Fund, ICICI Prudential Fund, Kotak Mutual Fund, Axis Mutual Fund, and HDFC Life.
Swiggy will open the public issuance of shares today and end it on Friday. This IPO comes at a time when domestic markets have seen a sharp fall amid record selling from foreign investors.
Through the OFS Swiggy, investors like Prosus, Accel, Elevation Capital, Meituan, and Tencent and the organisation founders Sriharsha Majety, Nandan Reddy, and Rahul Jaimini plan to sell around 175 million shares at a valuation of over ₹95,000 crore.
According to the sources, the IPO will be worth 11,327 crore, making it one of India’s biggest IPOs for the year. Swiggy’s IPO will include a primary share issuance of Rs 4,499 crore and an offer for sale (OFS) of ₹6,828 crore.
