Swiggy Share Price & IPO Listing Live: Swiggy shares surge after listing at 7.6% premium on NSE


Swiggy Stocks Today, Swiggy IPO Listing Live November 13, 2024: Swiggy stock is all set for market debut today. The IPO was oversubscribed by 3.59 times. The ₹11,300-crore IPO comprised fresh capital raise of ₹4,499 crore and an offer for sale (OFS) of 17.51 shares worth ₹6,828 crore. Swiggy IPO price band was set at ₹371-390 per share. 

Swiggy’s stock market debut: Will it deliver listing gains?

Shares of food delivery and grocery major Swiggy will be listed at the bourses today. The company has fixed the IPO price as Rs 370, at the upper end of the price band ₹371-390.

The issue, which struggled on the first two days, sailed through with an oversubscription of 3.60 times, thanks to QIB investors. Given the faltering of large IPOs such as LIC and Hyundai India, marketmen expect only a muted listing from Swiggy.

The qualified institutional buyers (QIBs) portion was booked 6.02 times—the highest, and the retail investor’s portion was subscribed 1.14 times. The employees’ book was subscribed 1.65 times. However, wealthy individual investors (NIIs) remain lukewarm to the issue as the portion reserved for them remained undersubscribed at 0.41 times. 

KS Badri Narayanan of businessline writes

ALL UPDATES

  • November 13, 2024 12:23

    Swiggy shares: Post-listing view on Swiggy IPO - by Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd

    Despite subdued market mood and sluggish response from overall investors, Swiggy listing surprised the market participants. Positive listing and price holding above its issue price of 390 should be seen as strong demand for the company. This shows investors are positive on the space and fear of missing out factor is holding investors not to miss the sector growth story, similar to ZOMATO post listing trend. 

    Post Listing: For allotted investors, HOLD FOR LONG TERM despite knowing short term volatility and competitive pressures in the sector. For non-allottees, we advise to wait and watch for the price to settle and revisit to buy near issue price if we get due to market selloff pressure.

  • November 13, 2024 12:20

    Swiggy shares: Post-listing view from Shivani Nyati, Head of Wealth at Swastika Investmart Ltd.

    Swiggy, the leading food delivery and e-commerce platform in India, made a decent debut on the stock market, listing at around Rs 420, a 7.6% premium over its issue price of Rs 390. This performance is better than expected, considering the moderate subscription of 3.59 times and the initial muted investor response reflected in the low grey market premium.

    The listing reflects a degree of optimism about Swiggy’s long-term growth prospects, driven by its strong brand recognition, extensive network, and dominant position in the food delivery market. However, the company’s continued losses and the challenging market conditions may temper investor enthusiasm in the long term.

    Investors should approach Swiggy with a balanced perspective, considering the potential for future growth and the associated risks. Those who are holding it may keep a stop at around the issue price.

  • November 13, 2024 11:41

    Swiggy shares: Stock surges 

    Swiggy shares surged 6.58% on the NSE to trade at ₹447.65 as at 11.38 am.

    On the BSE, the stock climbed 8.65% to ₹447.65

  • November 13, 2024 11:24

    Swiggy shares: JMFinancial on Swiggy

    JMFinancial on Swiggy

    Initiate Buy with TP of Rs 470

    Food delivery – duopoly structure should ensure steady growth and profits

    Instamart essentially a play on broader retail; has immense potential to grow

    On an absolute basis Swiggy offers decent upside, but we would prefer Zomato if asked to pick only one

    Zomato over Swiggy due to its superior execution in the past and market leadership across key segments

    Suggest that investors play both (preferably with higher weightage for Zomato), as in any case both are likely to be amongst the fastest growing consumption names

  • November 13, 2024 11:23

    Swiggy shares in focus: Macquarie on Swiggy

    Initiate U-P, TP Rs 325

    India’s no-2 consumer app(FD, Quick Com, Out-of-Home), has a clear path to catch up with leader Zomato

    Quick Com more complex, with no sustainable economic profits

    Expect Group EBIT breakeven in FY28E even with 23% core rev CAGR

  • November 13, 2024 11:06

    Swiggy share price today: Shares surge 5%

    Swiggy shares climbed 4.58% on the NSE to trade at ₹439.25 as at 11.05 am.

  • November 13, 2024 10:42

    Swiggy shares slip post-listing at ₹420 on NSE

    Screenshot 2024-11-13 104141.png

  • November 13, 2024 10:33

    Swiggy shares list at premium on NSE, BSE

    Swiggy shares list at ₹420 on NSE, and at ₹412 on BSE.

    Click to read more

  • November 13, 2024 10:28

    Swiggy Shares today: Congratulations Swiggy Limited on getting listed on NSE today: NSE

  • November 13, 2024 10:04

    Swiggy shares on BSE

    Shares of Swiggy were listed at ₹412 on the NSE, 5.6% premium against the issue price of ₹390.

  • November 13, 2024 10:02

    Swiggy shares list at 7.6% premium on NSE

    Swiggy shares debuted on the NSE at ₹420, at a 7.6% premium over the issue price of ₹390.

  • November 13, 2024 09:56

    Swiggy shares in pre-open trade

    Shares of Swiggy debuted 7.7% higher in pre-open trade on Wednesday, after institutional investors led its $1.4 billion initial public offering to be oversubscribed by more than three times last week.

    The stock is to be listed at ₹420 on the National Stock Exchange (NSE), compared to its issue price of ₹390.

    (Reuters report)
  • November 13, 2024 09:46

    Swiggy IPO/ Listing Live: Listing ceremony of Swiggy Limited

    (NSE handle on X)

  • November 13, 2024 09:40

    Swiggy Listing Live

    Listing of Swiggy Limited on November 13, 2024 

    Symbol: SWIGGY 

    Series: Equity “B Group” 

    BSE Code: 544285 

    ISIN: INE00H001014 

    Face Value: Rs 1/- 

    Issued Price: Rs 390/- per shar

  • November 13, 2024 09:37

    Swiggy IPO/ listing live: Prosus gains $2 billion on Swiggy investment with IPO valuation: Bloomberg

    Tencent Holdings Ltd.’s top backer Prosus NV said it has made more than $2 billion on its Swiggy investment as it continues to highlight the value of its portfolio outside of its stake in the Chinese tech giant. 

    Prosus and its controlling shareholder Naspers Ltd. have invested $1.3 billion building a 31% stake in Swiggy ahead of its stock market debut in India on Wednesday. The food delivery firm is targeting an initial public offering valuation of up to $11.3 billion.

    Prosus will sell down shares in the IPO and retain 25% of Swiggy, similar to its stake in Tencent, Prosus’s Chief Investment Officer Ervin Tu said an interview. The share sale is expected to generate a return of more than $500 million for Prosus, he added.

    “We expect to benefit from the upside of the business, and the tailwinds of the fast-growing Indian market in future,” Tu said, noting that Prosus has invested in several Indian companies that could list on public markets. 

    Bloomberg report

  • November 13, 2024 09:32

    Swiggy IPO listing live: Mehta Equities’ Prashanth Tapse, Senior VP (Research) comments on Swiggy

    Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said: “We believe the majority of the investor especially NII’s & retail stayed back on few reason like Negative cash flow business model followed by concern on high competition and ongoing negative market mood. Considering low subscription demand from NII’s & Retail investors followed by market sentiments, there is a very high possibility of flat to negative listing in the range of +or - 5-10% on its issue price.”

  • November 13, 2024 09:30

    Stock market today: Sensex, Nifty open weak 

    Track bl’s stock market live updates here

  • November 13, 2024 09:25

    Swiggy’s IPO unlocks ₹9,000 crore in wealth for 5,000 employees

    Food tech major Swiggy’s IPO is set to unlock wealth to the tune of ₹9000 crore in employee stock ownership plan (Esop) wealth for its current and former employees, making it one of the largest wealth creation exercises of its kind in India’s startup ecosystem.

    Nearly 5,000 current and former employees are set to benefit, with around 500 Swiggy employees to enter the ‘crore-pati’ club when the firm makes its stock market debut, according to sources.

    Till date, Swiggy has has distributed ₹500 crore in Esops. In July this year, the company had announced its plan to buy back stocks worth up to $65 million.

    This kind of wealth creation by a new-age company is unmatched at this scale apart from Flipkart which hich has undertaken bigger scale of buyback or payouts in the past. In 2023, Flipkart had paid out a total of $700 million to 17,000 employees.

    Overall, Flipkart had over five share buybacks worth $1.4-1.5 billion in total over the past years.

    Swiggy’s founders and top management of Swiggy were allocated Esops worth nearly worth $271 million in its latest stock ownership plan.

    Read the full report here
  • November 13, 2024 09:23

    Swiggy needs to show investors the money: Bloomberg

    Investors probably won’t give a standing ovation for the e-commerce major’s market debut as they did when rival Zomato went public in 2021. Still, Swiggy can learn from Zomato’s epic stock meltdown the following year and an equally dramatic comeback since then. The best way for Swiggy to close the valuation gap with Zomato is to set clear profitability timeline and stick to the milestone targets. Investors love a good story, but Swiggy should bear in mind that these days, they’re quick to hit the sell button if earnings don’t meet estimates.

    Bloomberg input

  • November 13, 2024 09:20

    Swiggy IPO listing live: Swiggy shares will be available for trade from 10 am today

  • November 13, 2024 09:19

    Swiggy listing live: Swiggy shares to list on the NSE at ₹351

  • November 13, 2024 09:16

    Swiggy IPO: Swiggy listing ceremony live

  • November 13, 2024 09:14

    Swiggy IPO subscribed 3.59x led by QIBs, employees 

    Food delivery and grocery major Swiggy’s initial public offering has been oversubscribed by 3.59 times after a tepid response in the first two days. 

    The qualified institutional buyers (QIBs) portion was booked 6.02 times — the highest, NII portion was booked 41 per cent and the retail investor’s portion was subscribed 1.14 times. The employees’ book was subscribed 1.65 times. 

    The ₹11,300-crore IPO comprises fresh capital raise of ₹4,499 crore and an offer for sale (OFS) of 17.51 shares worth ₹6,828 crore. Swiggy IPO price band has been set at ₹371-390 per share. 

    The food delivery giant has raised ₹5,085 crore from institutional investors, including Fidelity and Blackrock, with sizeable participation from domestic investors. 

    Read more

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