Mumbai2 minutes ago
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The initial public offer (IPO) of online food delivery platform Swiggy will open on November 5. Investors will be able to bid for this issue till November 8. The company's shares will be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on November 13.
The company wants to raise Rs 11,327.43 crore through this issue. For this, the company is issuing 11,53,58,974 fresh shares worth Rs 4,499 crore. Whereas, the existing investors of the company are selling 17,50,87,863 shares worth Rs 6,828.43 crore through Offer for Sale i.e. OFS.
If you are also planning to invest money in it, then we are telling you how much you can invest in it.
What is the minimum amount that can be invested?
Swiggy has fixed the price band of this issue at Rs 371 to Rs 390 per share. Retail investors can bid for a minimum of one lot i.e. 38 shares.
If you apply for 1 lot at the upper price band of IPO of Rs 390, then you will have to invest Rs 14,820.
10% of the issue reserved for retail investors
The company has reserved 7.5 lakh shares from the issue for its employees. Additionally, 75% of the issue has been reserved for Qualified Institutional Buyers (QIBs). Apart from this, 10% share is reserved for retail investors and the remaining 15% share is reserved for non-institutional investors (NII).
Swiggy's revenue to increase by 36% in FY 2024
Swiggy's revenue increased by 36% to Rs 11,247 crore in FY 2024, from Rs 8,265 crore in its previous financial year. During this period, the company also reduced its losses by 44% and in the financial year 2024 it stood at Rs 2,350 crore, which was Rs 4,179 crore in the previous year. The company has been helped in reducing losses by keeping its costs under control.
Although Swiggy's performance is lower than that of Zomato, it has still narrowed the gap to its rival in FY24. Zomato recorded revenue of Rs 12,114 crore in FY24, while Swiggy's revenue stood at Rs 11,247 crore. Similarly, Zomato made a profit of Rs 351 crore, while Swiggy had a loss of Rs 2,350 crore.
What is IPO?
When a company issues its shares to the general public for the first time, it is called Initial Public Offering i.e. IPO. The company needs money to expand its business. In such a situation, instead of taking loan from the market, the company raises money by selling some shares to the public or issuing new shares. For this the company brings IPO.
