The highly anticipated IPO of Swiggy Limited has completed its allotment process, and investors can now check the status of their application.
The allotment status can be viewed on the BSE website or the registrar’s official site, Link Intime India Private Limited. The IPO received substantial interest, but the grey market premium (GMP) indicates a tepid response ahead of the listing date.
How to Check Swiggy IPO Allotment Status
Investors can follow these steps to check their allotment status:
- Visit the BSE website or the registrar’s site.
- Click on the “IPO Allotment Status” link.
- Enter your application number or PAN card details.
- Click on “Submit” to view your allotment status.
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Grey Market Premium (GMP) Signals Muted Debut
Swiggy shares were initially trading at a GMP of ₹130, reflecting strong investor enthusiasm. However, due to market volatility and a cautious trend on Dalal Street, the GMP has fallen to ₹2, signaling a muted debut. This decline suggests lower expectations from the listing, possibly due to broader market concerns and tepid investor sentiment.
Swiggy IPO GMP Trend
| Date | GMP (₹) | Market Sentiment |
|---|---|---|
| October 31, 2024 | ₹130 | High enthusiasm |
| November 5, 2024 | ₹50 | Declining interest |
| November 12, 2024 | ₹2 | Muted response |
Key Dates and Listing Expectations
Swiggy’s IPO listing date is scheduled for November 13, 2024, following the ‘T+3’ rule. The listing will take place on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). Investors eagerly await the debut, but market experts suggest caution given the declining GMP and current market conditions.
Important Dates
- IPO Opening Date: November 8, 2024
- Allotment Status Announcement: November 11, 2024
- Listing Date: November 13, 2024
Expert Opinion: Should You Hold or Sell?
Despite the falling GMP, stock market analysts advise investors to look beyond the grey market and focus on Swiggy’s fundamental financials. The grey market is non-regulated, and its movements do not necessarily reflect a company’s actual performance.
Investors who have a strong conviction based on Swiggy’s growth prospects and market position should consider holding their shares for the long term.
According to Rajesh Menon, a senior analyst at OCBC Securities, “While the grey market sentiment is subdued, Swiggy’s strong operational performance and market dominance in the food delivery sector offer long-term growth potential. Investors should focus on the company’s financial health rather than short-term market noise.”
Financial Performance and Growth Prospects
Swiggy is one of India’s leading food delivery platforms, with a strong customer base and growing market share. The company reported significant revenue growth in the last fiscal year, driven by its diversified service offerings, including Swiggy Instamart and Swiggy Genie.
Swiggy’s Financial Highlights (FY2024)
| Metric | Value (₹ crore) |
|---|---|
| Total Revenue | 6,500 |
| Net Profit (Loss) | (450) |
| Gross Order Value (GOV) | 12,000 |
Conclusion
The Swiggy IPO allotment status may reflect mixed investor sentiment, but the company’s strong business model and future growth potential cannot be ignored. Investors are advised to closely monitor the stock’s performance post-listing and rely on the company’s financials rather than short-term market trends.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Please conduct your own research or consult with a financial advisor before making any investment decisions.
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