Swiggy’s IPO, which debuted on November 13, 2024, saw its shares trading at a roughly 15% premium in the grey market, reflecting strong investor interest despite broader market volatility. Priced between ₹371 and ₹390 per share, Swiggy’s IPO was oversubscribed, driven by interest from large investors, such as Norway’s sovereign wealth fund and Fidelity, whose bids helped raise over ₹11,000 crore for the food delivery giant
Source:- bbc news
This strong demand for Swiggy’s shares comes amidst market declines, which saw benchmark indices dip, indicating robust confidence in the company’s long-term potential. Swiggy has strategically allocated IPO proceeds to improve technology, enhance its grocery delivery arm Instamart, expand its logistics capabilities, and support its subsidiary Scootsy. By reinforcing its infrastructure, Swiggy aims to leverage India’s fast-growing online food and grocery delivery sector, expected to reach ₹9 trillion by 2030
Source:- news 18
While Swiggy has reported recent financial losses, its revenue growth and market expansion make it a prominent player in India’s food-tech landscape. The IPO success suggests optimism about Swiggy’s business model and its adaptability in a competitive, high-growth market sector.
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