Swiggy IPO Day 3: Today was the third and last day of the IPO of food delivery aggregator and quick commerce platform Swiggy. On the basis of subscription, it has not been able to do much in the primary market and its IPO has closed today only after being subscribed 3.59 times. The response to this IPO was cold till the second day, but today on the last day, after filling the retail and QIB quota completely, it has been subscribed till 3.59 percent and closed.
Swiggy’s IPO was a public issue with a book built value of Rs 11,300 crore (Rs 11,327.43 crore). This IPO is a combination of fresh issue of 11.54 crore shares worth Rs 4499 crore and offer for sale of 17.51 crore shares worth Rs 6,828.43 crore.
Price band of Swiggy IPO
The price band of Swiggy’s IPO was from Rs 371 to Rs 390. On the last day of its public issue, its retail and QIB quota has been completely filled but its non-institutional investors quota has not been fully subscribed.
At the upper price band of Swiggy’s IPO, the valuation of Swiggy is Rs 95,000 crore. Its comparison is obviously with its biggest competitor Zomato. This company became a public company by bringing IPO in July 2021 and its current market valuation is a total of Rs 2.25 lakh crore.
What is the condition of Swiggy’s GMP?
If we look at the gray market premium of Swiggy, it is running at GMP of Rs 1-2 and based on this, it can be listed on the exchanges at 0.2-0.5 percent.
In the food delivery and grocery market, Swiggy has a total market share of 34 percent and is behind Zomato’s 58 percent market share. Whereas in the field of quick commerce, Zomato Blinkit has 40-45 percent stake and Swiggy Instamart has 20-25 percent stake.
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