Swiggy IPO subscribed 35% on Day 2

Swiggy IPO has been subscribed 35 percent or 0.35 times on the second day. The IPO opened on Wednesday and saw a muted response from investors with a 12 percent subscription. On day two, the QIB portion has been subscribed 0.28 times, NIIs 0.14 times, the retail portion 0.84 times, and the employee portion 1.15 times. Investors selling in the OFS included 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.

Ahead of the IPO, the food delivery platform mobilized ₹5,085 crore from anchor investors by allotting 13.04 crore shares to 151 funds at ₹390. The IPO targets ₹11,327.43 crore through a combination of fresh issues worth ₹4,499 crore and an offer for sale of 17.51 crore shares worth ₹6,828.43 crore. Up to 75 per cent of issue is reserved for qualified institutional bidders, 15 percent for non-institutional investors (HNIs), and 10 percent for retail investors. The company has also reserved 750,000 shares for employees, which will get a discount of ₹25 from the issue price. The IPO, priced at ₹371-390, will close on November 8 and the lot size is 38 shares.

New World Fund Inc, Government Pension Fund Global, Nomura Funds Ireland Public Limited Company, Fidelity Funds, BlackRock, Allianz Global Investors Fund, and Schroder International, were the top anchor investors. Domestic fund houses such as ICICI Prudential Mutual Fund (MF), SBI Mutual Fund, HDFC Life Insurance Company Ltd, SBI Life Insurance Co. Ltd, and ICICI Prudential Life Insurance Company Ltd were allotted shares in the anchor round. Kotak Mahindra Capital Company, Citigroup Global Markets India, Jefferies India, Avendus Capital, J.P. Morgan India, BoFA Securities India, and ICICI Securities are the book-running lead managers of the IPO.