A tech-driven online food delivery giant, Swiggy on the third day or Day 3 (November 8) of its public issue was subscribed 3.59 times. Despite having met with a lukewarrm response in the first two days, the IPO wrapped with a positive subscription on the final day of bidding.

Arch-rival of Zomato, Swiggy's public issue offered 16 crore shares, but by the end of the subscription period, Swiggy had received bids for a total of 57.53 crore shares. This surge in demand on the final day came after the initial days showed less responses for the Rs 11,327.43 crore offering.

Although, the 3-day public issue had a slow start at the initial but the the food-tech giant has garnered interest, especially from institutional investors.

The price band of Swiggy's IPO was set between Rs 371 to Rs 390.

Breakdown of Subscription

The retail portion of the IPO was fully subscribed at 1.14 times. The Qualified Institutional Buyers category saw a substantial subscription of 6.02 times.

Furthermore, the non-institutional investors (NIIS) subscription rate stood at just 41 per cent.

The employee portion of the public issue was booked at a rate of 1.65 times.

GMP

According to investorgain.com, the GMP of the Bengaluru-based company, swiggy's public issue today was around Rs 1 per share, estimating to be listed at Rs 391 per share on the bourses.

The shares will be listed on the Indian stock exchanges on November 14, 2024.

Anchor Investors Back the IPO

Before the public offering began, the online food delivery giant secured Rs 5,085 crore from anchor investors.