Swiggy IPO: Public Issue Subscribed 3x, GMP Flat, Share Allotment Likely On Monday; How To Check Status?

The highly anticipated Swiggy IPO allotment is expected to be finalized on Monday, November 11, with investors awaiting to learn the outcome of their bids. Managed by Link Intime India as the registrar, the share allotment will be done on a lottery basis, offering investors a chance to secure shares in India's food delivery giant. Here's a breakdown of everything you need to know about the allotment process, checking your status, and Swiggy's financial outlook.

How to Check Swiggy IPO Allotment Status
Once the allotment is finalized, investors can check the status of their bids either through the Bombay Stock Exchange (BSE) website or via Link Intime India, the registrar for the issue. Here's a step-by-step guide for each method:

Checking Allotment on the BSE Website
Step 1: Visit the BSE IPO allotment check page at https://www.bseindia.com/investors/appli_check.aspx.
Step 2: Select "Swiggy IPO" from the dropdown list of issues.
Step 3: Enter either your application number or PAN details.
Step 4: Submit to view the allotment status.

Checking Allotment on Link Intime India
Step 1: Visit the Link Intime India IPO section at https://linkintime.co.in/initial_offer/public-issues.html.
Step 2: Choose "Swiggy IPO" from the list of IPOs.
Step 3: Enter your PAN details and click "Search" to check the status.

Swiggy IPO Details and GMP
The Swiggy IPO has garnered a moderate response from investors, achieving a subscription rate of just over 3 times by its close. Despite the strong brand presence, the grey market premium (GMP) currently stands at a modest Rs 1, representing only a 0.2% premium over the issue price.

Swiggy's shares are scheduled for listing on the stock exchanges on November 13, and the company is poised to use the IPO proceeds to bolster operations across several core areas, including:
Investment in Scootsy: Swiggy intends to channel funds into Scootsy, its material subsidiary, to enhance its service offerings and market reach.
Technology and Cloud Infrastructure: Enhancing digital infrastructure is crucial for Swiggy's scalability and operational efficiency.
Brand Marketing and Business Promotion: With the rise in competition, Swiggy plans to strengthen its brand positioning and market presence.

Financial Performance
Swiggy's financial journey has been marked by a series of operational losses since its inception. The food delivery company has been facing financial hurdles but showed some improvement in FY24, with a net loss of Rs 2,350 crore, which narrowed from a steeper loss of Rs 4,179 crore in FY23 and Rs 3,628 crore in FY22. However, Swiggy's revenues have shown significant growth, nearly doubling over two years from Rs 5,704 crore in FY22 to Rs 11,247 crore in FY24.

This rise in revenue indicates Swiggy's potential for growth within the competitive "quick-commerce" segment, where it rivals Zomato. Both companies have invested heavily in rapid grocery delivery.

Lead Managers and Investors
Kotak Mahindra Capital, Citigroup Global Markets, Jefferies India, and Avendus Capital served as the book-running lead managers for Swiggy's IPO, assisting the company in structuring and promoting the offer. Given the moderate response and current GMP, investors should keep a watch on Swiggy's post-listing performance on November 13.