Swiggy IPO: The company has fixed the price band of the IPO at Rs 371-390 per share. The minimum lot size with one application is 38 shares. The minimum investment amount for retail investors is 14 thousand 820 rupees.
Experts opinion…
According to market analysts, the current GMP of the Swiggy IPO is Rs 22, which is 5.6 percent higher than the cap price. It is noteworthy that on October 29, the GMP was Rs 25, which fell to Rs 18 on October 31. After this, it again gained momentum on November 2 and reached Rs 22. The GMP of this IPO has been stable for the last few days, which shows that investors are interested in this IPO. However, the GMP is only an indication and fluctuates rapidly.
Swiggy’s grey market premium
Swiggy’s grey market premium (GMP) is 5% or Rs 20 in the unlisted market. At the same time, the price band of this IPO is between Rs 371 and Rs 390. In terms of upper price band, the listing of the stock can cross Rs 400 and at Rs 410. Bids can be made for a minimum of 38 equity shares in a lot of the IPO. The IPO comprises a fresh issue of equity shares worth up to Rs 4,499 crore and an offer for sale of up to 175,087,863 equity shares under the offer for sale.
What was predicted before
As per the reports, Indian stocks have continued to fall for four consecutive weeks, the longest fall since August 2023. The Nifty50 index is down more than 8% from its record high of September 27 due to continuous foreign selling. Swiggy filed confidential papers for the IPO in April this year. Once again, on September 26, the company filed an updated draft. It is expecting that the company will issue fresh shares worth Rs 3,750 crore, in which existing shareholders will sell shares worth Rs 18.52 crore through an offer for sale (OFS).
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