Swiggy
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Swiggy's IPO Oversubscribed 3.59 Times on Final Day
The Swiggy IPO was subscribed 0.35 times and 0.12 times on the issue's second and first day, respectively. The qualified institutional buyers' QIBs reserve portion saw a subscription of 6.02 times; non-institutional investors NIIs portion witnessed a subscription of 0.41 times; while the retail individual investors RIIs portion subscribed at 1.14 times, and employee portion witnessed a subscription of 1.65 times.
Swiggy Secures ₹5,085 Crore from Anchor Investors Ahead of IPO
Among the anchor investors who have been allocated shares are New World Fund Inc, Government Pension Fund Global, Nomura Funds Ireland Public Limited Company, Fidelity Funds, BlackRock, Allianz Global Investors Fund and Schroder International, as per a circular uploaded on BSE's website.
Baron Capital Boosts Swiggy's Value to $12.16 Billion
In its filings, Baron Capital highlighted Swiggy's dominance in the Indian food delivery landscape, commanding approximately 45 percent market share. The investment firm expressed confidence in Swiggy's prospects, emphasizing its advantageous position to capitalize on the structural growth within India's online food delivery sector.
Swiggy's FY23 Financials: Losses Expand to Rs 4,179 Cr Ahead of IPO, Revenue Surges by 45%
The cost of employee benefits also saw a notable rise, climbing by 25% to Rs 2,130 crore. Swiggy's restaurant technology platform Dineout, acquired in 2022 for approximately $150 million, generated Rs 77.5 crore in revenue but incurred an operating loss of Rs 176 crore during the financial year.
All Kinds of Preparations on For Swiggy's IPO: Co-founder
For its IPO process, Swiggy is reportedly working with seven investment banks, including Kotak Mahindra Capital, Citi, JPMorgan, Bofa Securities, Jefferies, and others. The move comes after Swiggy's competitor, Zomato, went public in 2021.
Invesco Elevates Swiggy's Valuation to $8.3 Billion, Boosting US-Based Confidence
Notably, Invesco had previously raised Swiggy's valuation to around $7.85 billion in October of the preceding year.
After Zomato, now Swiggy increases platform fee to Rs 3 for food orders
A Swiggy spokesperson on Monday told IANS, that "there has been no significant change on platform fee, which is applied by most service players and is a common practice across industries".
India-Pak cricket clash: 250 biryanis ordered per minute on Swiggy
Swiggy saw 250 biryanis being ordered per minute since the match started.
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