Swiggy sold shares worth $605 million to institutional investors including Fidelity and Norges on Tuesday as the food delivery firm launches a $1.35 billion IPO that will be India’s second-largest stock offering this year.
Norway’s sovereign wealth fund Norges was allocated 4.46% of the portion reserved for big “anchor” investors and Nomura purchased 4.13%, while Fidelity funds snapped up a combined 7.8% stake.
Domestic mutual funds purchased shares worth a total of $246 million, or 40.65% of the anchor book, the company said in a stock exchange filing.
Anchor investors including Norges and Fidelity had placed bids worth more than $15 billion in the IPO, 25 times the $605 million portion reserved for such investors, Reuters reported last week.
Swiggy’s IPO will open for public subscription from Nov. 6 to Nov. 8, and the stock is expected to list on domestic bourses on Nov. 13.
Reuters
