Swiggy IPO subscribed 3.6x; over 90% bids from institutional investors

Quick Summary:

We recommend investors subscribe to the issue from a long-term investment perspective,” said SBI Securities in a note.Swiggy's $1.

The IPO, which closed on Friday, received bids for 575 million shares worth Rs 22,437 crore, 3.6 times the shares on offer.

The IPO also included a Rs 6,828-crore secondary share sale by 10 investors, including Tencent, Accel India, and Apoletto Asia.

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Category: BusinessFinance

Markets: India

Topics: Institutional investors Stock market Indian markets IPO

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-08 @ 19:53:53 (6 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 586 words

Reading Time: 4 minutes read

Sentences: 30 lines

Sentence Length: 20 words per sentence (average)

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Copyright Owner: © Business Standard

News ID: 23470795

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