News Desk, News Nation 360 : On Wednesday, November 06, 2024, Swiggy Limited, the first on-demand convenience platform in India (the "Company"), launched its initial public offering (the "Offer"). The closing date and bid/offer will be Friday, November 8, 2024. The Anchor Investor Bidding Date was Tuesday, November 5, 2024, one working day before the Bid/Offer Opening Date. The offer consists of an offer by the selling shareholders to sell up to 175,087,863 equity shares (the "Offer for Sale") and a fresh issue of equity shares totalling up to ₹44,990 million (the "Fresh Issue"). Between ₹ 371 and ₹ 390 per equity share is the fixed price range for the offer. It is possible to place bids for a minimum of 38 equity shares and then in multiples of 38 equity shares. Up to 750,000 equity shares with a face value of ₹1 apiece are reserved under the offer for subscription by qualified employees. This amount cannot exceed 5% of their post-offer paid-up equity share capital (the "Employee Reservation Portion"). "Net Offer" refers to the offer less the employee reservation portion. BSE Limited ("BSE") and the National Stock Exchange of India Limited ("NSE") are proposing to list the equity shares made available through the Red Herring Prospectus.
Pic - Courtesy
