Swiggy’s initial public offer (IPO) is live now  for public subscription. Swiggy targets to raise Rs 11,327 crore through its highly anticipated IPO. Swiggy’s IPO valuation stands at approximately Rs 95,000 crore. Meanwhile, Swiggy’s rival Zomato’s market capitalization stands at Rs 2.13 lakh crore.

Swiggy to raise Rs 4,499 crore via fresh shares, and promoters to offload Rs 6,828 crore via offer-for-sale (OFS) for this IPO. Swiggy’s IPO priced between Rs 371-390 per share, closing on November 8. “Our pricing is in the range of Rs 371-390, which corresponds to a value of about USD 11.3 billion, roughly. It is not exact because it depends on where the issue actually clears at the end of the day,” Rohit Kapoor, Swiggy Food Marketplace CEO, told PTI.

The company kept the lot size of the IPO at 38 company shares. The expected date for share allotment is Saturday, November 9th, 2024. Link Intime India Private Limited has been appointed official registrar for the IPO.

Swiggy was founded in 2014. The company operates in a B2C marketplace platform where it aggregates restaurant & merchant partners that can list their food & products. The users can discover and purchase such items on the platform.

Swiggy IPO – What Experts Say?

SBI Securities recommends subscribing to Swiggy’s IPO, citing fair pricing compared to Zomato. “We recommend investors to subscribe the issue for long term investment perspective,” said SBI Securities. However, analysts caution that any failure in dark store management in a cost-effective way may have an adverse effect on Swiggy’s business. “Material decrease in user base in future could adversely affect the business, cashflows and results of operations,” they said.

Bajaj Broking also recommends subscribing to Swiggy’s IPO, citing promising long-term growth. Swiggy shares trading at Rs 12 premium in grey market, 3% above issue price, said Investorgain, a firm which tracks the grey market activities.