Swiggy IPO Subscription Details and Investor Response

Swiggy, the Bengaluru-based food and grocery delivery platform, recently concluded its initial public offering (IPO), attracting significant attention. The ₹11,327 crore issue was offered at a price band of ₹371 to ₹390 per share and remained open from November 6 to November 8, 2024.

The Swiggy IPO saw overall subscription of 3.59 times, indicating solid demand in specific segments. Here’s a breakdown of the subscription details:

• Retail Investors: Subscribed 1.14 times, showing modest interest from individual investors.
• Qualified Institutional Buyers (QIB): Strong response with a subscription of 6.02 times, reflecting high institutional demand.
• Non-Institutional Investors (NII): Limited interest, with this segment subscribed only 0.41 times.

Swiggy’s IPO allotment will be finalized on November 11, 2024. Successful investors can expect shares to be credited to their demat accounts by November 12, while refunds for unallotted shares are likely to be processed on the same day. The shares are scheduled to list on the BSE and NSE on November 13.

Swiggy Limited IPO Grey Market Premium (GMP):
The Grey Market Premium (GMP) for Swiggy Limited's IPO is expected to be ₹0, based on the company’s financial performance. It is important to note that GMP is not an official or regulated market, and no real trading takes place on the basis of Grey Market Premium. As such, no reliable price discovery can be conducted before the official listing of shares. The GMP is often subject to demand and supply dynamics in an unorganized setting and is mentioned here solely for educational and informational purposes.

ACME Solar Holdings IPO: Key Details and Investor Subscription

ACME Solar Holdings Limited, a major renewable energy player in India, opened its IPO with a book-built issue of ₹29,000 crore. The IPO comprises a fresh issue of 828.71 lakh shares worth ₹2,395 crore and an offer for sale of 174.74 lakh shares totaling ₹505 crore. The issue was open for subscription from November 6 to November 8, 2024.

ACME Solar IPO Details:

• Price Band: Set between ₹275 and ₹289 per share.
• Market Capitalization: At ₹289 per share, the IPO values the company at approximately ₹17,515.70 crore.
• Lot Size: Minimum investment of 51 shares, requiring a retail investment of ₹14,739. High-Net-Worth Individuals (HNIs) need to invest in at least 14 lots (714 shares), amounting to ₹2,06,346.

The live subscription status for the ACME Solar IPO showed a total subscription of 2.89 times as of the final day (November 8, 2024). Here’s a breakdown:

• Retail Investors: Subscribed 3.25 times, indicating high interest from retail participants.
• Qualified Institutional Buyers (QIB): Subscribed 3.72 times, showing strong institutional demand.
• Non-Institutional Investors (NII): Subscription at 1.02 times, reflecting limited interest from HNIs.

Anchor Investors and Grey Market Premium (GMP):
ACME Solar Holdings raised ₹1,300.50 crore from anchor investors by allotting 4,50,00,000 equity shares at ₹289 per share. Although there’s no official grey market premium (GMP), demand in the grey market may sometimes hint at potential listing performance, though this market remains unregulated and is typically used only for informational purposes.

IPO Allotment and Listing Dates:

• Allotment Date: Both Swiggy and ACME Solar IPO allotments are expected to be finalized on Monday, November 11, 2024.
• Listing Date: Shares of both companies are scheduled to debut on the BSE and NSE on Wednesday, November 13, 2024.

Conclusion:
Swiggy’s IPO received strong support from institutional investors, while ACME Solar attracted robust interest from retail investors. The anticipated listing of both IPOs on November 13 will provide a clearer picture of their market reception.

The Upcoming IPOs in this week and coming weeks are Mangal Compusolution, Onyx Biotec, Rosmerta Digital, NTPC Green, Avanse Financial and Black Buck.

The Current active IPO are  Niva Bupa Health and Neelam Lines and Garments.

For more insights into financial trends , visit our Top News Headlines. You can also explore investment opportunities in the market and apply for upcoming IPOs through our Best IPO to Apply Now section.