Swiggy IPO: Swiggy, the food delivery giant company, recently launched its IPO. Everyone is looking forward to the listing, as the company makes stock market debut. The company raised a massive Rs 11,327 crore IPO along with offering 11.54 crore fresh shares worth Rs 4,499 crore, existing shareholders are cashing out with 17.5 crore shares valued at Rs 6,828 crore.
On its opening, the shares saw a 7.6% premium at Rs 420 on the NSE. Later, after the opening session, it fell to Rs 412, a 5.6% premium. Whereas, On the BSE, the company debuted at Rs 412, a 5.64% premium.
In the pre-opening trading session, the shares surged 7.7% today, following a highly successful $1.4 billion IPO. It was oversubscribed by more than three times, driven by strong demand from institutional investors.
The Listing ceremony of Swiggy Limited will be starting soon at our exchange @nseindia. Watch the ceremony live!https://t.co/oPlxfRlPsV #NSEIndia #listing #IPO #StockMarket #ShareMarket #SwiggyLimited @ashishchauhan
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The Market Sentiments Before The Listing Of Swiggy IPO-
It is sensed that the investors are not extremely happy about the performance of the IPO. In the past, investors were extremely expressive about the rival to Swiggy, Zomato, in 2021. It is anticipated that Swiggy could still make a comeback, as Zomato did after the stock meltdown. To give tough competition to its rival, Swiggy will have to set a clear profitability timeline and stick to the milestone targets. The market totally depends on the investors’ sentiments; investors do not think twice before selling the stock if it is making no profit. According to Bloomberg, Swiggy should keep all this in mind.
Also Read: Swiggy IPO: Did You Get The Shares Allotment Alert? Here Are The Simple Steps To Check The Status
