Swiggy’s Rs 11,300-cr IPO likely to open on Nov 6 – The Tribune-OxBig News Network

Food and grocery delivery major Swiggy is looking to raise Rs 11,300 crore through its initial public offering (IPO) opening for public subscription on November 6, sources said on Monday.

The shares would be available at a price band of Rs 371 to Rs 390 apiece.

The issue would conclude on November 8 and the bidding for anchor investors will open for a day on November 5, they added.

Swiggy is one of the most valued new-age consumer brands to tap the Indian capital market. The company’s Rs 11,300-crore IPO was a combination of fresh issue of shares worth Rs 4,500 crore and an offer for sale (OFS) of Rs 6,800 crore, they added.

Those selling shares in the OFS route are — Accel India IV (Mauritius) Ltd, Apoletto Asia Ltd, Alpha Wave Ventures, LP, Coatue PE Asia XI LLC, DST EuroAsia V B.V, Elevation Capital V Ltd, Inspired Elite Investments Ltd, MIH India Food Holdings B.V, Norwest Venture Partners VII-A Mauritius and Tencent Cloud Europe BV.