Food delivery company Swiggy is set to debut on the stock exchanges today (November 13). The Swiggy share price will be listed in a special pre-open session on both BSE and NSE on Wednesday trading. The Share Price of Swiggy will be available for trade from 10 AM.
According to experts, Swiggy is expected to be listed similarly to Hyundai India Limited, which had the largest IPO in the vehicle sector. Despite being the second-largest e-commerce and food delivery company in the country, Swiggy’s IPO has received a relatively subdued response from retail investors, with most interest coming from institutional investors.
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The Rs 11,327 crore IPO opened for subscription on Wednesday, November 6, and closed on November 8. According to BSE data, the IPO was oversubscribed 3.59 times on the final day of subscription. The qualified institutional investor category was subscribed 6.02 times, while the retail individual investor category saw 1.14 times subscription. Additionally, non-institutional investors accounted for 41% of the total subscription, while the employee category received 1.65% of the subscription.
What is the GMP?
Ahead of listing, Swiggy’s shares are trading in the gray market at a Grey Market Premium (GMP) of Rs 0, , which meant shares were trading at their issue price of Rs 390 with no premium or discount in the grey market. The issue price for Swiggy’s IPO was set at Rs 390.