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Food delivery unicorn Swiggy’s Rs.11,327-Cr IPO subscribed 3.59 times

Financial Express   Mint  

Bengaluru-headquartered food-tech unicorn Swiggy’s INR 11,327 crore initial public offering (IPO) received 3.59 times subscription, on the back of interest from qualified institutional buyers (QIBs). Swiggy received bids for 575.3 million equity shares against 160 million shares on offer. The IPO included a fresh issue of shares valued at INR 4,499 crore alongside an offer for sale (OFS) of INR 6,828 crore. The food delivery firm had collected INR 5,085.02 crore through the anchor book launched on November 5.In the OFS, the stakeholders offloading their shares consist of Accel India IV (Mauritius) Ltd, Apoletto Asia Ltd, Alpha Wave Ventures, LP, Coatue PE Asia XI LLC, DST EuroAsia V B.V, Elevation Capital V Ltd, Inspired Elite Investments Ltd, MIH India Food Holdings B.V, Norwest Venture Partners VIIA-Mauritius, and Tencent Cloud Europe B.V.Swiggy’s IPO was priced between INR 371 and INR 390 per share. The QIB portion of the issue was subscribed 6.02 times. Of the 523 million share bids received for the QIB portion, foreign institutional investors bid for 288.8 million shares, while domestic institutional investors and mutual funds together bid for 203.5 million shares. The retail portion was subscribed 1.14 times, the portion for non-institutional investors was subscribed 41% and the employee portion was subscribed 1.65 times.

Between 2015 and 2024, Swiggy had raised about USD 3.6 B from various PE-VC investors including Accel India, Elevation Capital, Norwest, Alpha Wave Global, Prosus Ventures, DST Global, Coatue Management and Tencent.