Swiggy, a food delivery and quick service firm, rose 16.92% from its initial price of Rs 390 to end at Rs 456 on Wednesday. Furthermore, the company’s market value surpassed one lakh crore.
At Rs 420, the company’s shares had their NSE debut, representing a 7.69% rise above the issue price. In the meantime, the stock was listed at Rs 412 on the BSE, indicating a 5.64 percent increase. The company received 3.59 subscriptions for its Rs 11,327-crore IPO. The segment designated for employees saw 1.65 times the bidding, while the category for retail investors was subscribed 1.14 times.
Swiggy Share Price
Swiggy had a good day on the stock exchanges, closing the day 10.48% higher at 464. The NSE listed the company’s shares at Rs 420, which was 7.7% more than the issue price. When the food delivery company’s initial public offering (IPO) launched on November 6, it received 3.59 subscriptions, whilst the retail section received 1.14. QIBs were the main cause of the problem, subscribing to it 6.02 times. The stock’s muted listing was suggested by the grey market premium. November 8 was the IPO’s closing date. Employees were given a discount of Rs 25 off the issuance price on the 750,00 shares that were reserved for them.
Swiggy IPO Details
The eagerly awaited initial public offering (IPO) of Swiggy, which was issued at a price band of ₹371-390 per share between November 6-8, garnered a surprisingly positive response despite being the second-largest e-commerce and meal delivery business. After receiving 0.12 times as many subscriptions on Day 1 and 0.35% on Day 2, the issue was subscribed 3.59 times on the last day. Because qualified institutional buyers (QIB) and retail investors lined up to subscribe, the IPO was able to reach its full subscription rate. The retail category subscribed 1.14 times, the QIB subscribed 6.02 times, and the non-institutional investor (NII) sector subscribed 0.41 times for the public offering. 1.65 reservations were made for the employee-only area.
