Swiggy made debut with 7% premium on stock exchanges

13 Nov 2024 , 10:00 AM

Swiggy Ltd. shares debuted with a 7% premium on D-Street. The shares get listed at ₹420 on the NSE, up 7.69% from the issue price of ₹390.

The food delivery company’s $1.3 billion share sale, which was more than three times oversubscribed last week, marks India’s second-largest listing this year after Hyundai Motor India Ltd.’s $3.3 billion IPO.

Swiggy’s IPO received strong support from both qualified institutional buyers and retail investors, with a final subscription rate of 3.59 times on November 8, according to BSE data. The company had set a price band of ₹371-₹390 per share for the ₹11,300 crore offering, which included a fresh issue of ₹4,499 crore and an offer-for-sale (OFS) of ₹6,825 crore.