The share allotment for the Swiggy IPO is expected to be finalized today, with the company set to debut on both the BSE and NSE on November 13. Shares will be allocated to investors through a lottery system, supervised by the registrar. On the allotment date, investors get to know about the number of shares allotted to them as against the bids made.They can check the allotment status through the BSE or by visiting the registrar's website. Here's how you can check the status on BSE or even on the registrar's website.Firstly, here's how you can know the status on BSEStep 1: Visit the BSE Website (https://www.bseindia.com/investors/appli_check.aspx)Step 2: Please select the issue name, that is the company's name in the drop down.Step 3: Enter the application number or PAN number to check the allotment status.To check the status of Swiggy IPO allotment through the registrar, which is Link Intime India in this case, kindly follow the below steps.Step 1: Visit the Link Intime India website (https://linkintime.co.in/initial_offer/public-issues.html)Step 2: Select Swiggy IPOStep 3: Enter the PAN details and click search to know the statusSwiggy GMPThe company's shares are expected to get listed on the exchanges on November 13. In the unlisted market, the company's shares are trading with a GMP of Rs 1, which indicates a premium of just 0.2% over the issue price.Swiggy IPO subscriptionThe IPO of Swiggy received decent response from investors with an overall subscription of just over 3 times at close.Other detailsThe food delivery company proposes to use the IPO proceeds for investment in its material subsidiary Scootsy, investment in technology and cloud infrastructure and also for brand marketing and business promotion. This will be done over a four to five-year period.Swiggy competes with Zomato in India's online restaurant and food delivery sector, and both have made major bets on a boom in "quick-commerce," where groceries and other products are delivered in 10 minutes.The company has incurred net losses in each year since incorporation and have negative cash flows from operations.For the financial year ended March 2024, the loss stood at Rs 2,350 crore versus Rs 4,179 crore in FY23 and Rs 3,628 crore in FY22. Revenue from operations in the said period, however, doubled to Rs 11,247 crore in FY24 from Rs 5,704 crore in FY22.Kotak Mahindra Capital, Citigroup Global Markets, Jefferies India and Avendus Capital are the book-running lead managers, while the registrar to the issue is Link Intime India.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
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