Swiggy to announce Q2 results on December 3; how has the stock performed since its listing?

In a regulatory filing, the food aggregator said, "SWIGGY LIMITED has informed the Exchange about Board Meeting to be held on 03-Dec-2024 to inter-alia consider and approve the Unaudited Financial results of the Company for the Quarterly ended September 2024."

Swiggy share price: How has the stock performed since its listing?

Shares of Swiggy Limited settled 6.42% higher at ₹500.95 aunit on the National Stock Exchange (NSE) on Monday. The market capitalisation of the company stands at ₹1,12,135 lakh crore.

Swiggy shares were listed on the stock exchanges on November 13. The stock debuted on the NSE at ₹420 apiece (a premium of 7.69%) over the issue price of ₹390. It had hit its all-time high of ₹517 on November 28.

The scrip is currently up 28.4% from the issue price.

Swiggy's ₹11,327 crore IPO, which oversubscribed 3.59 times, consisted of new equity shares as well as an offer-for-sale (OFS) component.

Swiggy expands 10-minute food delivery service to 400+ cities

On Monday, Swiggy said it has extended Bolt, its 10-minute food delivery service, to more than 400 cities and towns across India.

Initially launched in Mumbai, New Delhi, Chennai, Bangalore, Pune and Hyderabad, the offering is now live in cities such as Jaipur, Ahmedabad, Lucknow, Indore, Kochi and Coimbatore.

In a statement, the company said that Bolt has been expanded to Tier-2 and Tier-3 cities like Roorkee, Warangal, Guntur, Patna, Solan, Shillong, Nashik, and Jagtial, among others.

The highest adoption of 10-minute food delivery has been seen in Telangana and Andhra Pradesh, followed by Haryana, Tamil Nadu, West Bengal, Gujarat, Rajasthan, and Punjab, the company said.

"To ensure safety of delivery partners, they are not informed of the distinction between Bolt and regular orders, and there is no incentive for fast delivery. The delivery radius for Bolt is limited to 2 km as of now which also increases familiarity and enables faster delivery," it added

Bolt focuses on dishes that can be delivered quickly without compromising freshness, taste, or quality. Swiggy said 40,000 restaurants have partnered for the service, offering over 10 lakh items.