Desk
Share
Swiggy IPO GMP: The IPO of food delivery and quick commerce aggregator company Swiggyis going to open on Wednesday, November 6. But before this, the grey market premium (GMP) of the IPO has fallen significantly in the non-listed market. According to ET's report, the GMP of Swiggy's IPO is seen to be only Rs 20. According to IPO Watch, it was Rs 130 a few days ago. That is, the GMP of Swiggy's IPO has fallen drastically.
How much will be the benefit?
The price band of shares in the IPO is Rs 370-390. That is, based on the current GMP, its listing can happen at Rs 410. The minimum lot size for the IPO is 38 shares, for which retail investors will have to invest at least Rs 14,820.
Got a strong response from anchor investors
Swiggy received a great response from anchor investors before the IPO. It had set a target of raising $600 million (Rs 5047 crore) from anchor investors, while its anchor book got 25 times more subscriptions. This made the subscription amount of the anchor book $15 billion (Rs 1.26 lakh crore).
Swiggy fined
On this, Swiggy has been fined Rs 35,000 for increasing the delivery distance to charge more money from its customers. This fine has been imposed by the District Consumer Disputes Redressal Commission in Hyderabad. A user from Hyderabad, Emmadi Suresh Babu, filed a complaint against Swiggy in the consumer court.
He claimed that despite being a Swiggy One member, he was charged delivery charges by Swiggy for what he should have been getting for free delivery. He said that on November 1, 2023, he ordered food from a restaurant on Swiggy which is 9.7 km away from his house. But the food delivery platform increased it to 14 km and charged him Rs 103 as delivery distance.
These Rs 35000 will have to be given to the user by Swiggy.
--Advertisement--
