Swiggy IPO listing date has been scheduled for today (Wednesday, November 13) on the bourses at 10:00 IST. According to details on the BSE website, Swiggy share price will list in a special pre-open session on both the BSE and NSE during Wednesday's trades. Swiggy share price today will be available for trade from 10:00 IST.
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According to the BSE website, the equity shares of Swiggy Ltd will be listed and allowed for trading on the Exchange as part of the 'B' Group of Securities.
Swiggy IPO allotment was finalised on Monday, November 11. The crediting of shares to demat accounts for individuals who have been granted shares took place on Tuesday, November 12. Yesterday also marked the completion of the process of returning shares to individuals who have not yet received them. With strong support from qualified institutional buyers and retail investors, Swiggy IPO subscription status was 3.59 times on the final day of bidding on Friday, November 8, as per BSE data.
Swiggy is scheduled to launch its shares on the stock market on November 13, 2024, having achieved a subscription rate of 3.59 times, indicating a reasonable level of interest from investors. The firm is active in India's swiftly expanding online food delivery and quick commerce industries, which have experienced substantial growth.
“Swiggy is also focused on accelerating its Instamart service and narrowing the market share gap with competitors like Zomato and Blinkit. We recommend holding Swiggy shares with strong growth potential for a medium- to long-term investment outlook,” said Mehrotra.
Even though it is the second-largest player in both e-commerce and food delivery, it experienced a tepid reaction from most investors. Although the overall subscription numbers appear promising on a consolidated basis, support from Day-3 qualified institutional buyers for the Swiggy IPO enabled it to sell out successfully, reflecting a trend similar to that of the Hyundai Motors IPO.
“We believe the majority of the investor especially NII's & retail stayed back on few reason like Negative cash flow business model followed by concern on high competition and ongoing negative market mood. Considering low subscription demand from NII’s & Retail investors followed by market sentiments, there is a very high possibility of flat to negative listing in the range of +or - 5-10% on its issue price,” explained Tapse.
Although the IPO garnered a reasonable subscription rate of 3.59 times, the existing grey market premium (GMP) of approximately Re 1 (0.26%) suggests a lackluster reaction from investors. This cautious sentiment is probably affected by the company's ongoing losses, despite its consistent revenue increases.
“The IPO's valuation, while appearing reasonable based on certain metrics, presents a challenge due to negative earnings. Additionally, the current volatile market conditions may further impact the listing performance. Given these factors, a cautious approach is recommended. Investors with a high-risk tolerance and a long-term perspective may consider the IPO,” said Nyati.
Swiggy IPO GMP today or grey market premium was ₹0, which meant shares were trading at their issue price of ₹390 with no premium or discount in the grey market according to investorgain.com
Taking into account the grey market activities from the last 20 sessions, the IPO GMP shows a downward trend today and is anticipated to decline further. The minimum GMP recorded is ₹0, while the maximum GMP stands at ₹25, as per the experts at investorgain.com.
'Grey market premium' indicates investors' readiness to pay more than the issue price.
Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.
