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Swiggy makes market debut today
Business Standard
|November 13, 2024
Shares of food delivery major Swiggy will make stock market debut on Wednesday following its ₹11,327 crore initial public offering (IPO), second biggest this year and sixth-largest to hit the domestic market.
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The IPO's main book had garnered 3.6 times subscription, with 90 per cent of the bids coming from institutional investors. Swiggy's listing comes at a time when the domestic markets are under intense selling pressure on account of earnings disappointment and sharp selloff by overseas funds.
If grey market premium is to go by, Swiggy's shares could list close to its issue price of ₹390 per share, which values the company at ₹87,300 crore.
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