The listing ceremony of Swiggy Limited took place on the National Stock Exchange.
Shares of Swiggy Limited and ACME Solar Holdings Limited have been listed on the stock exchange today (November 13). The share listed at ₹420 on the National Stock Exchange (NSE), 7.69% above the issue price. Shares of Swiggy Ltd were listed at ₹412 on the Bombay Stock Exchange (BSE), 5.64% above the issue price. The issue price of Swiggy Limited's IPO 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. This 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.
Both IPOs were open from 6 to 8 November
The IPOs of Swiggy Limited and ACME Solar Holdings Limited were 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 Investors (NII) category.
Whereas, the IPO of ACME Solar Holdings was subscribed a total of 2.89 times. This issue was subscribed 3.25 times in retail category, 3.72 times in QIB and 1.02 times in NII category.
1. Swiggy Limited: The issue was worth ₹11,327.43 crore.
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.
Retail investors could bid for maximum 494 shares
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 recorded 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.
2. ACME Solar Holdings Ltd: The issue was worth ₹2,900 crore
This IPO of ACME Solar Holdings was worth ₹ 2,900 crore. For this, the company issued 82,871,973 fresh shares worth ₹2,395 crore. Whereas, the existing investors of the company sold 17,474,049 shares worth ₹ 505 crore through Offer for Sale i.e. OFS.
Retail investors could bid for maximum 494 shares
ACME Solar Holdings had fixed the IPO price band at ₹275-₹289. Retail investors could bid for a minimum of one lot i.e. 51 shares. If you had applied for 1 lot as per the upper price band of IPO of ₹ 289, you would have had to invest ₹ 14,739.
At the same time, retail investors could apply for a maximum of 13 lots i.e. 663 shares. For this, investors would have to invest ₹ 191,607 as per the upper price band.
ACME Solar Holdings was established in June 2015.
ACME Solar Holdings Limited was established in June 2015, which generates electricity from renewable energy sources. The company is one of the largest companies generating electricity from wind and solar energy in India. The company engages in development, construction, ownership, operation and maintenance of large-scale renewable energy projects.
In both IPOs, 10% stake was reserved for retail investors.
Both the companies had reserved 75% of their respective IPOs 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).
What is IPO?
When a company issues its shares to the general public for the first time, it is called Initial Public Offering i.e. IPO. The company needs money to expand its business. In such a situation, instead of taking loan from the market, the company raises money by selling some shares to the public or issuing new shares. For this the company brings IPO.
Graphics Source: VaskarAssets
