Swiggy IPO Listing: Will Swiggy be able to become Zomato for its shareholders? This question might be flashing in the minds of the investors who have been allotted shares in Swiggy’s IPO on Wednesday morning. Swiggy’s IPO will be listed on both the stock exchanges BSE and NSE today at 10 am. Amidst the deteriorating market sentiment, whether the shareholders get listing gains or not is a question of lakhs.
Zomato had a spectacular listing
When the IPO of Swiggy’s rival company Zomato came in July 2021, the company gave strong returns to its shareholders upon listing. Zomato had raised money from the market at an issue price of Rs 76. And on July 23, 2021, the share priced at Rs 76 was listed at Rs 116 with a jump of 53 percent. And on the same day the stock jumped by 80 percent to Rs 138. In such a situation, the question arises whether Swiggy’s stock will be able to perform this feat?
Swiggy subscribed only 3.59 times
Swiggy’s IPO was successful in getting filled only 3.59 times. Whereas Zomato’s IPO was subscribed 38 times. This clearly shows that the uneasiness seen among investors in the Indian stock market due to selling by foreign investors has had an impact on Swiggy’s IPO. Swiggy’s IPO was open till 6-8 November 2024. The company has fixed the price band at Rs 371-390 per share. And at the issue price of Rs 390, the company has raised Rs 11,700 crore. The size of Swiggy’s IPO is Rs 11,700 crore in which Rs 4500 crore new shares have been issued while the remaining amount of Rs 6800 crore has been raised through Offer for Sale.
Giants invested
Before the launch of Swiggy’s IPO, many celebrities from cricket to film have bought shares of Swiggy, which includes Bollywood’s Shahenshah Amitabh Bachchan to Team India’s Mr. Dependable Rahul Dravid. Apart from this, Madhuri Dixit, Karan Johar have also bought shares of Swiggy before the IPO. Motilal Oswal Financial Services Chairman Ramdev Aggarwal has also bought stake in Swiggy.
