Swiggy grey market premium (GMP) is currently at 5%, or Rs 20, in the unlisted market, just a day before its initial public offering (IPO) opens on November 6. The subscription period for the IPO will run until November 8.

Swiggy, the popular food delivery platform, has launched its IPO. The IPO aims to raise funds for expansion and technological advancements. Investors can participate in the IPO until November 8. The company has established a price range of Rs 371-390 per share.

The Swiggy IPO will be open for subscription between Nov. 6 and Nov. 8. Share allotment of the issue is likely to be done on Monday, Nov. 11.

According to stock market observers, the company's shares are trading at a premium of ₹11 in the grey market today

Three days ahead of the issue opening, Swiggy's gray market premium (GMP) stood at 5% or ₹19 in the unlisted market. This means investors are ready to pay around ₹409 for one share of the company, which suggests that the buzz surrounding the IPO is muted.

Swiggy is set to launch its initial public offering on Wednesday, allowing investors to subscribe until Nov. 8. As of 5:03 a.m. on Wednesday, the company's shares were trading with a grey market premium of Rs 12, representing 3.08% premium over the upper end of the price band set at Rs 390.

Swiggy is a rival of already listed Zomato, which received strong demand during its public offer. Could Swiggy surpass Zomato in IPO subscriptions and listing? Lets understand, including other key details of the IPO.

Food delivery giant Swiggy is planning to raise about Rs 11,327.43 crore to invest in R&D and expand its quick commerce business with its latest IPO. Moreover, Swiggy is offering its upcoming IPO at a lower valuation of $11.