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  3. Swiggy IPO gets oversubscribed led by QIB bids

Swiggy IPO gets oversubscribed led by QIB bids

8 Nov 2024

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Key Takeaways

Swiggy's IPO was oversubscribed 1.07 times, with QIBs driving strong demand, achieving 1.52 times subscription. It raised Rs 5,085 crore from anchor investors.

Swiggy's IPO was oversubscribed 1.07 times, with QIBs driving strong demand, achieving 1.52 times subscription. It raised Rs 5,085 crore from anchor investors.

Swiggy

Swiggy

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Expert Analysis

Swiggy IPO gets oversubscribed led by QIB bids.

Expert Analysis:

  • IPO Oversubscription: Swiggy IPO was oversubscribed 1.07 times by Friday afternoon, the third day of its book-building process.

  • Qualified Institutional Buyers (QIBs): Qualified Institutional Buyers (QIBs) oversubscribed their portion of Swiggy's IPO by 1.52 times, investing heavily on the final day.

  • Retail and Non-Institutional Investors (NIIs): Non-institutional investors (NIIs) bid for 22%, while retail investors subscribed to 97% of the allocated IPO portion.

  • Employee Quota: The portion reserved for employees was subscribed 1.38 times, reflecting strong internal support.

  • Anchor Investment Support: Swiggy raised nearly Rs 5,085 crore (approx. $605 million) from anchor investors, including HDFC, ICICI, SBI, Astrone Capital, Fidelity, and BlackRock.

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