Swiggy IPO listing prediction: Analysts raise caution ahead of market debut

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Swiggy IPO listing prediction: Analysts raise caution ahead of market debut - Business Standard

Quick Summary:

Swiggy IPO is a book-built issue of Rs 11,327.43 crore, comprising a fresh issue of 115,358,974 shares and an offer for sale of 175,087,863 shares with a face value of Re 1 apiece, available at a price band of Rs 371-390.

Despite being the second-largest e-commerce and food delivery player, Swiggy saw sluggish overall investor response, said Prashanth Tapse, Senior VP (Research) at Mehta Equities.

Swiggy's public offering received decent participation, oversubscribing by 3.59 times, driven mainly by Qualified Institutional Buyers (QIBs) who subscribed at 6.02 times, followed by retail investors at 1.14 times.