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News on Medial
Swiggy IPO’s anchor investment bids to open tomorrow
YourStory
·
9m ago
Medial
Swiggy, the food delivery player, is set to launch its initial public offering (IPO) with the bidding process scheduled to begin on November 6. The company aims to achieve a valuation of Rs 87,000 crore ($11.3 billion) and plans to list on domestic stock exchanges by November 13, 2024. Swiggy is looking to raise Rs 4,499 crore through the issuance of fresh shares, while existing shareholders, including early investors like Accel and Elevation Capital, will also sell around 175 million shares. Accel and Prosus are expected to realize significant gains from their investments.
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Related News
Swiggy IPO anchor book oversubscribed 25x; bids worth over $15 billion received from global and domestic investors
Economic Times
·
9m ago
Medial
Food and grocery delivery giant Swiggy has garnered significant interest from global and domestic investors in its IPO. The anchor book, set at $600 million, was oversubscribed 25 times, with bids totalling $14 billion. Major investors like Fidelity, Capital Group, and Norges Bank Investment Management have shown interest in the IPO. Swiggy CEO Sriharsha Majety highlighted the potential of its quick commerce business, Instamart, which may surpass its food delivery operations. The IPO filing includes a price range of Rs 371-390 per share, and Swiggy plans to raise Rs 4,499 crore through the issuance of new shares.
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Swiggy IPO: Retail portion gets 54% subscription, employees subscribe 74% of allotted shares on Day 1
YourStory
·
9m ago
Medial
Swiggy, the popular food delivery company, saw a retail subscription of 54% on the first day of its initial public offering (IPO). The overall subscription was at 12%, with significant interest from retail investors and employees. However, qualified institutional buyers did not make significant bids on the first day. Swiggy had previously raised around $605 million from anchor investors. The company is seeking a valuation of approximately $11.3 billion through its IPO.
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Norway's wealth fund, Fidelity among anchor investors in Swiggy IPO
VCCircle
·
9m ago
Medial
Swiggy, the Indian food delivery firm, has raised $605 million from institutional investors including Fidelity and Norway's sovereign wealth fund, Norges, as part of its $1.35 billion IPO. Nomura also purchased a significant stake. Domestic mutual funds accounted for $246 million of the anchor book. The IPO, the country's second-largest this year, is expected to open for public subscription on 6 November and list domestically on 13 November.
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NTPC Green sets price band for $1.2 bn IPO
VCCircle
·
9m ago
Medial
NTPC Green Energy has set a price range of 102 rupees to 108 rupees per share for its upcoming $1.19 billion IPO in India. The renewable energy company's IPO will open for bids on November 19 and close on November 22, with large "anchor" investors bidding on November 18. NTPC Green is a unit of state-owned power company NTPC and plans to use the proceeds to invest in its subsidiary NTPC Renewable Energy and repay debt. India's IPO market has been strong, despite recent large IPOs receiving a lukewarm response from investors due to a slide in the stock market.
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Ola Electric sets price band of Rs 72-76 per share for IPO
YourStory
·
1y ago
Medial
Ola Electric, a Softbank-backed electric vehicle maker, has announced its initial public offering (IPO) price range of Rs 72 to Rs 76 per equity share. The offering includes a fresh equity issue of Rs 5,500 crore and an offer for sale (OFS) of 8,49,41,997 shares. Bids can be made for a minimum of 195 shares and in multiples of 195 shares. Ola Electric's IPO will open for subscription on August 2, with the anchor investor bidding starting on August 1. The company's revenue in FY24 rose to Rs 5,009.8 crore while its loss was recorded at Rs 1,584.4 crore.
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Swiggy raises $605 million from anchor investors as part of $1.35 billion IPO
Economic Times
·
9m ago
Medial
Swiggy, the food and grocery delivery company, has closed the anchor portion of its initial public offering (IPO) by allocating shares worth $605 million to both domestic and foreign investors. Over 75 investors, including BlackRock, Fidelity, ICICI Prudential Mutual Fund, and HSBC, participated in the anchor investment round. Domestic insurance companies such as ICICI Prudential Life, HDFC Life, and SBI Life, as well as global investors like Norges and Capital Group, also joined in. The IPO, set at a valuation of $11.3 billion, will launch on Wednesday and is expected to be one of India's largest this year.
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BlackBuck IPO: Issue Subscribed 5% On Day 1 So Far
Inc42
·
9m ago
Medial
BlackBuck, a logistics startup, aims to raise INR 1,114.72 Cr through its initial public offering (IPO). So far, the IPO has received bids for 11.57 Lakh shares, with 2.24 Cr shares on offer as of November 13. Additionally, BlackBuck has also raised INR 501 Cr from anchor investors in preparation for its IPO.
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Fidelity, Nomura line up bids for Ola Electric's IPO
Economic Times
·
1y ago
Medial
Ola Electric's upcoming IPO is expected to attract bids from investors including Fidelity, Nomura, and Norges Bank, along with Indian mutual funds SBI, HDFC, UTI, and Nippon India. Fidelity is likely to bid around $75 million, while Nomura and Norges will each place bids of $100 million in the IPO anchor book. The IPO will raise $660 million through the issuance of new shares, with existing investors, including founder Bhavish Aggarwal, also selling their stake of about $80 million. The final valuation for the IPO is estimated to be around $4 billion to $4.2 billion.
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Zinka Logistics IPO subscribed 1.86 times on final day
Economic Times
·
9m ago
Medial
Zinka Logistics, the parent company of BlackBuck, successfully completed its IPO, with bids for 1.86 times the shares on offer. The IPO received bids for 4.19 crore shares against 2.25 crore shares available. The IPO consists of a fresh issue of shares worth Rs 550 crore and an offer-for-sale of up to Rs 565 crore. The shares will be listed on November 21. BlackBuck, a trucking aggregator, raised Rs 501 crore from anchor investors before the IPO. The company plans to allocate 20% of the IPO proceeds to its financial services subsidiary.
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Hyundai IPO last day today: Will India's largest public issue hit Rs 1 lakh crore bids? Check subscription update
Money Control
·
10m ago
Medial
Hyundai Motor India's IPO enters its final day of bidding, with investors closely watching if the Rs 27,800 crore public issue will be fully subscribed or even reach Rs 1 lakh crore in total bids. The IPO has already raised Rs 8,315 crore through anchor allocation and would require Rs 91,685 crore in total bids to hit the Rs 1 lakh crore mark. The public issue has garnered significant interest, with 42% subscription by the end of day two. Hyundai India expects a strong response to positively impact market sentiment.
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