New Delhi: The month of November is about to start. This month is also going to be very good for stock market investors. Many Upcoming IPOs are going to open this month too. Investors were waiting for the IPO of food delivery company Swiggy for a long time. After getting approval from market regulator SEBI, investors are very eager to know the price band of the IPO along with its opening date.

Now the discussion has increased regarding the price band and investor date of this IPO. According to media reports, Swiggy's IPO will open on 6 November 2024 and will close on 8 November 2024. At the same time, its price band (Swiggy Price Band) will be between Rs 371 and Rs 390. There has been no official confirmation by Swiggy about this.

How big will the IPO be?

Swiggy is planning to raise Rs 11,300 crore through its IPO. In this, the company will issue a fresh issue of Rs 4,500 crore and an offer for sale (OFS) of Rs 6,800 crore. Swiggy had filed the draft paper through the confidential pre-filing route.

Where will the IPO amount be used

According to the IPO documents, Swiggy will use the funds raised from its IPO to repay the debt of its subsidiary Scooty. Apart from this, the amount will also be used to expand Scooty's dark store network. At the same time, Swiggy can use Rs 586.20 crore for tech and cloud infrastructure, Rs 929.50 crore for brand marketing and business promotion.

What is the valuation of Swiggy?

Swiggy's valuation has reached around US$13 billion. According to global startup data platform Tracxn, the company's annual revenue has reached US$1.09 billion.

This IPO is coming

The IPO of solar company ACME Solar is also going to come in the stock market. Apart from this, the IPO of NTPC Green, a subsidiary of renewable company NTPC, will also come. Both these companies have not given information about their price band and timeline, but it is expected that the company's IPO will be listed by the end of November.