Swiggy IPO Day 2: GMP, Subscription Update, and Key Details—Is It Worth Applying?

Swiggy IPO Grey Market Premium (GMP)

Stock market analysts report that Swiggy's shares are trading at a premium of ₹11 in the grey market today, showcasing moderate interest from investors.

Swiggy IPO Price and Details

The popular online food delivery giant, Swiggy, set its IPO price band between ₹371 and ₹390 per share. The IPO opened for bidding on November 6, 2024, and will be available until November 8, 2024, providing investors a three-day window to participate.

Swiggy IPO Size

Swiggy's public offering aims to raise a substantial ₹11,327.43 crore, comprising a mix of new equity shares and an Offer for Sale (OFS) by existing shareholders. This strategic mix highlights the company's bid to raise capital while allowing current stakeholders to liquidate part of their holdings.

Subscription Status After Day 1

On the first day of bidding, Swiggy's IPO saw a lukewarm response, with the overall issue subscribed 0.12 times. The retail segment recorded a better performance with 0.54 times subscription, while the Non-Institutional Investors (NII) portion was subscribed 0.06 times. This indicates a cautious but developing interest in the IPO, potentially ramping up in the coming days.

Key Takeaways for Investors

Swiggy’s IPO comes at a time when market sentiment is varied, and the moderate GMP suggests careful optimism. Potential investors should weigh the company’s market position, growth trajectory, and financials before making a decision.

Should You Apply?

The decision to invest in Swiggy's IPO should consider factors such as the company’s profitability outlook, market dominance, and competition in the online food delivery sector. While the grey market premium shows a minor uptick, it’s essential to review Swiggy’s fundamentals and the broader market environment before applying.

Stay updated with Swiggy’s IPO subscription trends and expert analyses to make an informed decision as the bidding period progresses.