Swiggy made a strong debut on the NSE (National Stock Exchange) today, with its shares listing at ₹420 per share, which represents an 8% premium over its Initial Public Offering (IPO) price of ₹388 per share. The much-anticipated listing has garnered significant attention from investors, reflecting confidence in the company’s growth prospects in India’s food delivery and quick-commerce sectors.
- IPO Details:
- IPO Price: ₹388 per share.
- Issue Size: Swiggy raised approximately ₹5,000 crore through its IPO, with a mix of fresh issue and offer for sale (OFS) by existing shareholders.
- Subscription Status: The IPO received a strong response, with an overall subscription of nearly 7-8 times, driven primarily by high demand from institutional investors.
- Listing Performance:
- Opening Price: ₹420 per share on the NSE, reflecting an 8.2% premium over the issue price.
- Market Capitalization: Following the listing, Swiggy’s market capitalization is estimated to be around ₹1.10 lakh crore, making it one of the largest players in India’s tech-driven consumer services sector.
- Investor Sentiment:
- The positive listing reflects strong market sentiment, with investors bullish on Swiggy’s long-term growth prospects, given its dominant position in India’s food delivery space alongside Zomato.