Swiggy plans to use the proceeds of IPO to expand its dark store network, make further investments in Scootsy, fund acquisitions and brand marketing.

Swiggy's highly anticipated Rs 11,300 crore IPO has hit the market, generating significant buzz, especially during unlisted market deals. Despite a lukewarm response on the first day, subscription numbers have picked up on the second day.

Swiggy has raised around $606 million from a set of more than 75 anchor investors as part of its $1.35 billion initial public offering, as the Indian food delivery and quick commerce startup prepares for the country’s second-largest listing of the year next week.

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Food delivery and quick-commerce major Swiggy's initial public offering (IPO) received 35% subscription on day two of the share sale.

Food and grocery delivery firm Swiggy's $1.4 billion IPO was 12% subscribed after its first day of bidding, with retail investors placing orders for more than half the shares reserved for them in India's second-largest IPO of 2024.

Swiggy's IPO opens today for retail and institutional investors, with the company anticipating its listing on the stock exchanges on November 13.

Bidding for the food delivery giant's IPO will remain open till Friday, November 8, 2024, and its grey market premium today is ₹11