The Swiggy IPO will be open for subscription between Nov. 6 and Nov. 8. Share allotment of the issue is likely to be done on Monday, Nov. 11.

The company has fixed a price band of Rs 371-390 per share for the IPO, which means that the investors are willing to pay about Rs 410 for one share of the company.

Food delivery giant Swiggy is planning to raise about Rs 11,327.43 crore to invest in R&D and expand its quick commerce business with its latest IPO. Moreover, Swiggy is offering its upcoming IPO at a lower valuation of $11.

Swiggy has announced an IPO to raise Rs 11,327.43 crore, comprising a fresh issue and an offer for sale. Priced between Rs 371-390 per share, the offering opens on November 6, 2024, and closes on November 8.

Swiggy IPO, with a price band of Rs 371 to Rs 390 per share, will open on Wednesday. The listing of NSE and BSE is expected next week.

Swiggy is serving the IPO at a lower valuation of $11.3 billion as against its earlier target of around $15 billion. The valuations were reduced due to prevailing market volatility and the lacklustre debut of Hyundai India.

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Three days ahead of the issue opening, Swiggy's gray market premium (GMP) stood at 5% or ₹19 in the unlisted market. This means investors are ready to pay around ₹409 for one share of the company, which suggests that the buzz surrounding the IPO is muted.