Swiggy Makes a Market Debut Shares Surge 19%

Swiggy made a spectacular debut on the stock market, with its shares surging 19% on the first trading day, taking its market cap to approximately ₹1.04 lakh crore. The IPO, which had an upper price band of ₹390 per share. This IPO allowed the food delivery giant to raise around ₹11,300 crore ($1.35 billion).

The offering was a mix of a fresh issue worth about ₹4,500 crore and an offer-for-sale (OFS) from existing investors like Prosus and Tencent, who reduced their stakes slightly. The listing follows a wave of tech unicorn IPOs in India, marking one of the largest in recent years. Swiggy’s growth strategy, which includes its food delivery services and expansion into quick-commerce through Instamart, helped build strong market confidence.