FOREX
Swiggy shares list at 7.6% premium on NSE at ₹420 a share
Shares of food delivery and grocery major Swiggy debuted at a premium of 7.6 per cent and 5.6 per cent on the NSE and BSE at ₹420 and ₹412, respectively.
The ₹11,327.43 crore IPO was priced at ₹371-390 with a lot size of 38 shares.
Swiggy IPO was oversubscribed by 3.60 times, with QIBs booked 6.02 times, retail investors’ portion 1.14 times, employees’ portion 1.65 times, and NIIs lukewarm at 0.41 times.
The IPO comprised a fresh capital of ₹4,499 crore and an offer for sale (OFS) of 17.51 shares worth ₹ 6,828 crore. The food delivery major mobilised ₹5,085 crore from anchor investors.
Kotak Mahindra Capital Company, Citigroup Global Markets India, Jefferies India, Avendus Capital, J.P. Morgan India, BoFA Securities India, and ICICI Securities were the book-running lead managers of the IPO.
As at 10.17 am, Swiggy shares traded at ₹400.45 on the NSE, lower by 4.65 per cent and at ₹400 on the BSE, down by 2.91 per cent.
Swiggy-rival Zomato stock traded at ₹256.69 on the NSE, down by 1.65 per cent as at 10.21 am. Zomato shared a post on X earlier today showcasing Swiggy as a listed entity.
