New Delhi: Shares of Swiggy ended at Rs 464 — a premium of 18.97 percent to the IPO price of Rs 390 on NSE and at Rs 455.95 on BSE –with a 16.9 percent premium as the company made much-anticipated stock market debut today. Swiggy’s initial share sale had a price range of Rs 371-390 a share.
“Swiggy’s IPO had a better-than-expected debut, rising over 14% from the issue price, which could lead to growing investor confidence. However, the company’s ongoing losses, coupled with challenging market conditions, could dampen this trust in the long term. It is to be noted that this is the country’s second largest IPO this year,” told Zee News.
On Wednesday, shares of Swiggy were listed with a premium of nearly 8 per cent against the issue price of Rs 390 on NSE. Shares of the firm made the market debut at Rs 420, a jump of 7.69 per cent on the bourse.
The stock on the BSE was listed at Rs 412, a jump of 5.64 per cent from the issue price. Later, it surged 7.67 per cent to Rs 419.95.
A PTI report, quoting people close to the matter said, the company’s market listing catapulted over 500 current and former employees to the “crorepati” club, with the food delivery and quick commerce major’s listing poised to unlock Rs 9,000 crore in ESOPs for 5,000 staffers.
The company’s IPO (Initial Public Offering) had a fresh issue of shares worth Rs 4,499 crore, along with an Offer-For-Sale (OFS) of Rs 6,828 crore.
