Swiggy Ltd. has established a price range of Rs 371-390 per share for its IPO, which will go live on November 6 and end on November 8.

On November 5, the anchor book will open. On November 11, the basis for allocation and the start of refunds will take place. On November 12, equity shares will be credited, and on November 13, the stock will list on exchanges.

A fresh issue of Rs 4,499 crore and an offer-for-sale of Rs 17.5 crore by a number of current shareholders and promoters make up the initial public offering (IPO). The OFS would be valued at Rs 6,828 crore on the higher price range of the issuance price. This will result in a total issue size of about Rs 11,327.43 crore and a total company valuation of approximately Rs 87,299 crore.

Supported by a number of local and international institutional investors, the business has lowered the offer-for-sale component from 18.5 crore shares and raised the new issue amount from Rs 3,750 crore.

The selling stockholders in the professionally managed company's offer for sale will include Accel India, MIH India Food Holdings, Norwest Venture Partners, Apoletto Asia, Elevation Capital, Inspired Elite Investments, Alpha Wave Ventures, Coatue PE Asia, DST EuroAsia, and Tencent Cloud Europe.

With a 30.93 percent ownership, Prosus affiliate MIH India Food Holdings is Swiggy's largest stakeholder. SoftBank Group's SVF II SONGBIRD (DE) LLC comes next with a 7.75 percent stake. Tencent Cloud owns a 3.64 percent interest, while Accel India owns a 4.71 percent stake.

The firm was co-founded by Sriharsha Majety, Managing Director and Group CEO, and Lakshmi Nandan Reddy Obul, Wholetime Director and Head of Innovation. They each own 5.36 percent and 1.75 percent of the business, respectively.

The company plans to invest Rs 1,343.5 crore in its subsidiary Scootsy, Rs 703.4 crore in technology and cloud infrastructure, and Rs 1,115.3 crore for brand marketing and business promotion. Its fiscal year 2024 loss decreased to Rs 2,350.2 crore, while revenue increased by 36%.

The company reported a loss of Rs 611 crore in Q4 2024, up from Rs 564 crore in the previous year, but a 35% increase in revenue to Rs 3,222.2 crore.