Swiggy's IPO: A Recipe for Success with 2.54x Oversubscription

The IPO of Swiggy, valued at USD 11.3 billion, was fully subscribed by day three, achieving 2.54 times subscription. Significant demand came from Qualified Institutional Buyers with a 4.16 times subscription. The funds will be used for technology investments, marketing, and debt payment.

Swiggy's initial public offering garnered significant attention, reaching full subscription on the third day of trading.

The offering drew bids for over 40 million shares, over 2.5 times the 16 million shares available, showing strong investor interest. Notably, Qualified Institutional Buyers contributed to a 4.16-fold oversubscription.

Swiggy aims to channel IPO proceeds into technology and cloud advancements, robust marketing, and reducing debt, with strategic funds also reserved for organic and inorganic expansion.

(With inputs from agencies.)