Swiggy VS Zomato: Swiggy shares made a strong market debut on Wednesday, listing at a generous premium to their issue price. Swiggy shares listed on the Bombay Stock Exchange (BSE) at Rs 412, a 5.6% premium over the issue price. On the National Stock Exchange (NSE), Swiggy’s shares commenced trading at Rs 420, surpassing the IPO price by Rs 30. Notably, Swiggy’s stock market debut surpassed expectations, outperforming subdued grey market forecasts.

Swiggy’s Rs 11,327-crore IPO witnessed overwhelming response, subscribing 3.59 times on final day. Swiggy’s IPO was priced in the range of Rs 371-390 per share.

On the other hand, Zomato shares debut on Indian stock market in July 2021. The company’s shares soared on debut, opening at Rs 116 on NSE, 52.63% above issue price. The listing price on the Bombay Stock Exchange was at Rs 115, reflecting a premium of 51.32%.

Swiggy Vs Zomato: All Details

• 52-week high for Zomato’s share is Rs 298.20 apiece. Lifetime high for Swiggy’s share is Rs 449 per share.
• 52-week low for Zomato’s share is Rs 112.50 apiece. Lifetime low for Swiggy’s share is Rs 390.70 per share.
• Market capitalisation of Zomato is Rs 2,28,640.35 crore, whereas market capitalisation of Swiggy is Rs 99,689.25 crore.
• Zomato’s shares debuted in the Indian bourses in July 2021, whereas Swiggy’s shares debuted in the Indian stock market today (13 November 2024).

JM Financial recommends Zomato over Swiggy. However, JM Financial rated Swiggy with a “Buy” rating, setting a target price of Rs 470. Zomato’s impressive track record and market dominance in key segments make it a preferred choice, said JM Financial. Macquarie initiates coverage on Swiggy with an “Underperform” rating and a price target of Rs 325.

Zomato’s food delivery segment has achieved stability and profitability, which gives it an upper edge over Swiggy. However, it’s premature to predict which food delivery major will make a significant impact on the Indian stock market.

What’s remarkable is that Zomato and Swiggy dominate India’s online food delivery market, with Zomato holding a slight market share advantage. Swiggy operates in a competitive market, vying for dominance with listed rival Zomato.

(Disclaimer: This stock market news is for informational purposes only and should not be construed as investment advice.)

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