Shares of Swiggy Limited and ACME Solar Holdings Limited have been listed on the stock exchange today (November 13). Swiggy shares were listed at ₹420 on NSE, 7.69% above the issue price. It was listed on BSE at ₹412, 5.64% above the issue price. Its issue price was ₹390 per share.
At the same time, shares of ACME Solar Holdings were listed on NSE at ₹251, 13.15% below the issue price. The share was listed on BSE at ₹259, 10.38% below the issue price. The issue price of ACME Solar Holdings’ initial public offer was ₹289 per share.
Swiggy IPO
This IPO total of Swiggy Limited was ₹ 11,327.43 crore. For this, the company issued 11,53,58,974 fresh shares worth ₹ 4,499 crore. Whereas, the existing investors of the company sold 17,50,87,863 shares worth ₹ 6,828.43 crore through Offer for Sale i.e. OFS.
With the listing of Swiggy, about 500 employees of the company have become millionaires. These are those employees who were issued shares of the company on a large scale under a special scheme even before the listing. Swiggy had come up with Employee Stock Option Scheme (ESOP) thrice in 2015, 2021 and 2024. Under ESOP, more than 4,000 employees were given small stakes in the company. This is equivalent to about 23 crore shares of the company.
Retail investors Could Bid
Swiggy Limited had fixed the IPO price band at ₹371-₹390. Retail investors could bid for a minimum of one lot i.e. 38 shares. If you had applied for 1 lot at the upper price band of IPO at ₹ 390, you would have had to invest ₹ 14,820. At the same time, retail investors could apply for a maximum of 13 lots i.e. 494 shares. For this, investors would have to invest ₹ 192,660 as per the upper price band.
Swiggy’s Revenue to increase by 36% in FY 2024
Swiggy’s revenue increased by 36% to Rs 11,247 crore in FY 2024, from Rs 8,265 crore in its previous financial year. During this period, the company also reduced its losses by 44% and in the financial year 2024 it stood at Rs 2,350 crore, which was Rs 4,179 crore in the previous year. The company has been helped in reducing losses by keeping its costs under control.
Although Swiggy’s performance is lower than that of Zomato, it has still narrowed the gap to its rival in FY24. Zomato reported revenue of Rs 12,114 crore in FY24, while Swiggy’s revenue stood at Rs 11,247 crore. Similarly, Zomato made a profit of Rs 351 crore, while Swiggy had a loss of Rs 2,350 crore.
Retail investors Have 10% Stake in The IPO.
Both the companies had reserved 75% of their respective IPO for Qualified Institutional Buyers (QIB). Apart from this, 10% share was reserved for retail investors and the remaining 15% share was reserved for non-institutional investors (NII).
The IPO of Swiggy Limited was open from 6 to 8 November. Swiggy’s IPO was subscribed a total of 3.59 times in three trading days. The issue was subscribed 1.14 times in the retail category, 6.02 times in the qualified institutional buyers (QIB) category and 0.41 times in the non-institutional investor (NII) category.
