Indian foodtech major, Swiggy has procured Rs 5,085 crore from anchor investors, one day before its first share sale for public subscription.

Reports claim that investors who were given shares include New World Fund Inc., Government Pension Fund Global, Nomura Funds Ireland Public Limited Company, Fidelity Funds, BlackRock, Allianz Global Investors Fund, and Schroder International.

Additionally, it was reported that the shares were distributed in the anchor round to ICICI Prudential Mutual Fund (MF), SBI Mutual Fund, HDFC Life Insurance Company Ltd, SBI Life Insurance Co. Ltd, and ICICI Prudential Life Insurance Company Ltd, as well.

This level of distribution shows that there is a greater demand from institutional investors both within and outside the country, reflecting the market’s support of this IPO.

Till date, the foodtech major has delivered about 13.04 crore shares at a price of Rs 390 each to 151 funds in accordance with the circular. The total transaction value is said to be about Rs 5,085 crore.

Nearly 20 domestic mutual funds from 69 investment schemes, received 5.3 crore of the 13.04 crore shares allotted to anchor investors.

The foodtech major is expected to open the club for share subscription to the public from the 6th to the 8th of this month at a price between Rs 371 and Rs 390.

At the same time, it is probable to face hurdles with a number of recent initial public offerings (IPOs), such as the massive Rs 28,000-crore offering by South Korean automaker Hyundai.

Therefore, it hopes to make Rs.11,327 crore through the IPO, which will include a new issue of shares valued at Rs 4,499 crore and an offer for sale (OFS) of Rs 6,828 crore.

At the higher price range, Swiggy is valued at approximately $ 11.3 billion, or Rs 95,000 crore. The market value of rival Zomato, which went public in July 2021, is Rs 2.13 lakh crore.

According to the draft documents, the company intends to use the money raised from the new issue to pay off debt, invest in cloud infrastructure and technology, market the brand and promote the business, and fund inorganic expansion and other corporate needs.

Founded in 2014, Swiggy reported a loss of Rs 611 crore for the quarter that ended in June 2024, which was less than the Rs 564 crore it reported for the same period the previous year.