Global brokerage firm CLSA is the most recent to join the rising number of analysts who are bullish about Swiggy, the massive food delivery service. The company has given Swiggy’s stock a “outperform” rating, with a target price of ₹708 that indicates a possible gain of around 32%.
Following CLSA’s commencement report, the food delivery to fast commerce stock increased by 5.6% to reach a high of ₹567.80 for the day. Only 1.5% separates Swiggy from its all-time high of ₹576.95, which was reached on December 5, and it is currently trading around 38% higher than its IPO price of ₹412.
In the meantime, it has risen more than 45% since hitting its 52-week low of ₹390.70 on the day of listing. Strong investor interest in Swiggy’s long-term growth story is demonstrated by this impressive performance.
Swiggy IPO details
Swiggy was listed on the National Stock Exchange for Rs 420, which was 7.7% more than the issue price. It was listed on the BSE at Rs 412, which represented a 5.6% premium. November 6th marked the opening of the IPO, while November 8th marked its closing. 11.54 million new shares were sold during the IPO, bringing the total sales to Rs 4,499 crore. Another element of the issue was a 17.51 crore share selling offer, worth Rs 6,828.43 crore. The price range for each equity share at the company’s IPO was Rs 371 to Rs 390.
Swiggy Q2 results
The September quarter net loss for food delivery aggregator Swiggy was Rs 625.5 crore, which is less than the Rs 657 crore loss recorded during the same period last year. The prior quarter, which concluded in June, had a loss of Rs 611 crore.
In comparison to the same quarter last year, when revenue was Rs 2,763 crore, and the June quarter, when it was Rs 3,222 crore, revenue increased by 30% year over year to Rs 3,601 crore. The business stated in its post-earnings investor presentation that it anticipates a break-even point by the third quarter of FY26 and an adjusted EBITDA break-even point by the July–September quarter of FY2025.
