Food tech major Zomato warmly welcomed Swiggy‘s debut on the stock market with a heartfelt social media post on Tuesday, November 13.
Swiggy and zomato personnel at BSE
“You and I… In this beautiful world,” read Zomato’s post on X. The post included an image of Swiggy and Zomato delivery personnel in front of the Bombay Stock Exchange (BSE) building. It featured a banner announcing Swiggy’s listing, showing a friendly gesture between the two biggest delivery platforms of the country.
Continue Exploring: Swiggy to create 500 Crorepati employees via ESOP before IPO
Meanwhile, Zomato CEO Deepinder Goyal extended Congratulations to Swiggy on Its Successful Listing. Goyal took to social media and said, “Congratulations Swiggy!” Goyal said. “Couldn’t have asked for a better company to serve India with.”
Swiggy boast 7.69% premium over IPO of INR 390
Notably, Swiggy is now listed on the BSE and NSE after its IPO. Shares started trading at INR 420 on the NSE, a 7.69% premium over the IPO price of INR 390, better than expected. The IPO price range was INR 371 to INR 390 per share, raising INR 11,327 crore, with strong interest from institutional investors. Qualified Institutional Buyers (QIBs) subscribed 6.02 times, while retail investors subscribed 1.14 times.
Continue Exploring: Day 3: Swiggy’s IPO oversubscribed by 3.59 times, led by QIBs
Further, Swiggy’s IPO was oversubscribed by 3.59 times, although non-institutional investors showed less interest, with subscriptions at 0.41 times. The listing provided significant returns for major investors like Prosus NV.
As of 11:53 a.m., Swiggy shares were trading at ₹442.35 on the National Stock Exchange (NSE).
