Swiggy IPO: After three days of bidding for the initial public offering (IPO) of Swiggy Limited on 8th November 2024, Swiggy IPO allotment status was declared on Monday. Swiggy IPO allotment status can be checked online by logging in at the official BSE website or the official website of its registrar Link Intime India Private Limited — linkintime.co.in. For more convenience, applicants can log in at the direct BSE link — bseindia.com/investors/appli_check.aspx or the direct Link Intime link — linkintime.co.in/initial_offer/public-issues.html for online Swiggy IPO allotment status check.
After the announcement of Swiggy's IPO allotment, applicants eagerly await the IPO listing date, which is most likely on 13 November 2024. Meanwhile, after the announcement of Swiggy's IPO allotment status, the grey market continues to signal tepid listing for Swiggy shares. According to stock market observers, Swiggy shares are trading at a premium of ₹2 in the grey market today.
As mentioned above, Swiggy IPO GMP (Grey Market Premium) today is ₹2, which is ₹3 lower than Monday's Swiggy IPO GMP of ₹5. They said there was a cautious trend on Dalal Street and a tepid response from investors to the public issue, which could be the reason for falling grey market sentiments. After the announcement of the Swiggy IPO price band at the end of October 2024, Swiggy shares made a stellar debut in the grey market. Before the Swiggy IPO subscription opening, Swiggy IPO GMP was once at ₹130 apiece. However, it started to tumble after the stock market crash, and that trend continues. Swiggy's IPO GMP fell from ₹130 to ₹2 in nearly two weeks, which signals a muted debut for Swiggy shares.
However, stock market experts said that the grey market is non-regulated and has no connection with a company's balance sheet. They advised allottees to stick with the basics and rely on the conviction they have developed after scanning the company's financials. They said that the grey market premium can be artificial as well because it involves even those who have a high stake in the public issue.
In the wake of the 'T+3' listing rule, Swiggy's IPO listing date is most likely tomorrow, November 13th, 2024.
