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Swiggy Share Price Highlights: Stock settles 10.5% higher after listing at 7.7% premium on NSE, m-cap crosses ₹1 lakh crore
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8 min read | Updated on November 13, 2024, 17:30 IST
SUMMARY
Swiggy Share Price Highlights: Swiggy Ltd shares listed at ₹420 apiece on the NSE (National Stock Exchange) on Wednesday, November 13, a premium of 7.69% to the issue price of ₹390 a unit.
Swiggy IPO was subscribed 3.59 times during the three-day bidding period.
- Sriharsha Majety, Managing Director and Group CEO
- Nandan Reddy, Whole-time Director and Head of Innovation
- Rahul Bothra, Chief Financial Officer
- Rohit Kapoor, CEO- Food Marketplace
- Amitesh Jha, CEO- Instamart
- Phani Kishan, Chief Growth Officer
- Madhusudhan Rao, Chief Technology Officer
- Girish Menon, Chief Human Resources Officer
- Traded volume: 229.39 lakh
- Traded value: ₹607.43 crore
- Total market capitalisation: ₹15,438.81 crore
The stock listed at ₹412, reflecting a jump of 5.64% from the issue price of ₹390 on the BSE. It settled 16.9% higher at ₹455.95 from the issue price.
At the NSE, shares made their market debut at ₹420, a jump of 7.69%. The scrip closed 18.9% higher at ₹464.
Swiggy CEO Sriharsha Majety said that Instamart's average delivery time has reduced over time in big cities, adding, "Our delivery time has reduced from 17 minutes to 12 minutes."
- Current price: ₹444.9 (+5.93%)
- Issue price: ₹390
- Open: ₹420
- High: ₹449
- Low: ₹391
Taking to X, Zomato CEO Deepinder Goyal said, "Congratulations @swiggy! Couldn't have asked for a better company to serve India with."
According to the red herring prospectus (RHP), Swiggy paid around 3.1% of the IPO's size towards total expenses for the initial share sale. The company paid the merchant bankers ₹275 crore for the timely execution of its IPO.
Apart from merchant bankers’ fees, IPO expenses included SEBI charges, NSE and BSE processing fees, legal fees, and advertising and marketing expenses.
Citigroup Global Markets India, Kotak Mahindra Capital Company, Jefferies India Private Limited, JP Morgan India Private Limited, BofA Securities India, ICICI Securities and Avendus Capital were some of the key merchant bankers for the Swiggy IPO.
- Current price: ₹443.3 (+5.55%)
- Issue price: ₹390
- Open: ₹420
- High: ₹449
- Low: ₹391
- Current price: ₹402.35 (-4.2%)
- Issue price: ₹390
- Open: ₹420
- High: ₹420.05
- Low: ₹391
Taking to X, Zomato, a competitor of Swiggy, said, "You and I... In this beautiful world ❤️ @Swiggy."
- Sriharsha Majety, Managing Director and Group CEO
- Nandan Reddy, Whole-time Director - Head of Innovation
- Anand Kripalu, Chairman and Independent Director
- Suparna Mitra, Independent Director
- Shailesh Vishnubhai Haribhakti, Independent Director
- Sahil Barua, Independent Director
- Anand Daniel, Nominee Director (Non-Executive)
- Sumer Juneja, Nominee Director (Non-Executive)
- Ashutosh Sharma, Nominee Director (Non-Executive)
- Roger Clark Rabalais, Nominee Director (Non-Executive)
In a statement, Swiggy said media reports of the Competition Commission of India's (CCI) investigation into Swiggy confuse the investigative process with the final outcome and are misleading.
"Based on the order of the CCI dated April 5, 2022, the Director General investigated certain aspects of the conduct of our business and its inquiry and report of March 2024 is a preliminary step in an ongoing investigation by the CCI, and not a final decision as some reports suggest," Swiggy said.
- Food delivery under Swiggy
- Delivery of household items under Instamart
- restaurant reservations under Dineout
- Event bookings under SteppinOut
- Pick-up and drop-off services under Genie
- Hyperlocal commerce under Swiggy Minis
- Invest in its subsidiary - Scootsy
- Invest in technology and cloud infrastructure
- Brand marketing and business promotion
- Fund inorganic growth through acquisitions
- General corporate expenses.
| Particulars | FY22 | FY23 | FY24 |
|---|---|---|---|
| Revenue | ₹5,704 crore | ₹8,264 crore | ₹11,247 crore |
| Net Loss | ₹3,628 crore | ₹4,179 crore | ₹2,350 crore |
Swiggy IPO Listing LIVE: Shares of Swiggy Ltd, a food delivery and quick-commerce giant, will be listed on the National Stock Exchange (NSE) and the BSE on Wednesday, November 13.
The ₹11,327 crore initial share sale had got bids for more than 57.53 crore shares against 16,01,09,703 shares on offer, leading to 3.59 times subscription.
| Category | Number of Times Subscription |
|---|---|
| Qualified Institutional Buyers (QIBs) | 6.02 |
| Non-institutional Investors | 41% |
| Retail Individual Investors (RIIs) | 1.14 |
| Total | 3.59 |
Before the public offer, the company had raised ₹5,085 crore from anchor investors.
The company intends to use the fresh issue proceeds to invest in a subsidiary, technology and cloud infrastructure, brand marketing and business promotion, and debt payment. Funds will also be used for inorganic growth and general corporate purposes.
Swiggy IPO listing date and time
Swiggy shares will be listed on the NSE and the BSE on Wednesday at 10 am.
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