Swiggy IPO: Retail portion gets 54% subscription, employees subscribe 74% of allotted shares on Day 1

Quick Summary:

Swiggy IPO was subscribed 12% on the first day of its book building mainly driven by bids from employees and retail investors.

It is seeking a valuation of around Rs 87,000 crore or about $11.3 billion.

Qualified Institutional buyers (QIBs) which typically invest on the last day to gauge overall market demand did not make significant bids on the first day.

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Article Details

Author / Journalist: Akshita Toshniwal

Category: StartupsEconomyBusiness

Markets: India

Topics: Swiggy First Privacy Policy Retail Subscribed Crore Shares Bids Employees Investors

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-06 @ 12:32:44 (2 weeks ago)

News Timezone: GMT +8:00

News Source URL: yourstory.com

Language: English

Article Length: 257 words

Reading Time: 2 minutes read

Sentences: 17 lines

Sentence Length: 16 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © YourStory

News ID: 23446838

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Main Topics: StartupsEconomyBusiness

Official Website: yourstory.com

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