Swiggy IPO Debut : Food Delivery Giant Lists with 7.69% Premium, Faces Initial Volatility

India’s leading food and grocery delivery platform, Swiggy, made its much-anticipated debut on Dalal Street, witnessing strong investor enthusiasm but also early fluctuations. The company’s IPO, which was oversubscribed 3.6 times, listed at a 7.69% premium on the NSE, highlighting the high market interest in tech-driven food delivery services in India.

Swiggy IPO Listing Performance

Swiggy’s shares opened on the NSE at Rs 420 per share, reflecting a 7.69% premium over its issue price of Rs 390. Meanwhile, the company debuted on the BSE at Rs 412, marking a 5.64% premium. These premiums highlight positive market sentiments toward Swiggy, though some volatility followed its opening.

As of 10:10 AM, Swiggy’s stock showed a slight decrease, trading at Rs 401.3 on the BSE and Rs 400.8 on the NSE. This initial fluctuation is common with high-profile tech IPOs as investors calibrate to the stock’s market position.

Price Band and Market Strategy

Swiggy had set its IPO price band between Rs 371 and Rs 390 per equity share, with a face value of Re 1. This pricing strategy likely played a role in driving retail and institutional interest, though the limited uptake from non-institutional investors could reflect a cautious outlook from high-net-worth participants amid market volatility.

What’s Next for Swiggy’s Stock?

Swiggy’s early listing performance has sparked discussions on its future trajectory in a competitive, fast-growing sector. With India’s demand for food and grocery delivery rising, Swiggy’s stock could find a solid base, attracting both long-term investors interested in tech-driven growth and those looking to capitalize on market movements.

As Swiggy navigates the post-listing market landscape, its performance will be a barometer for investor confidence in tech IPOs amid a challenging economic environment. Investors will be closely monitoring the stock’s stability and Swiggy’s ongoing innovations in service delivery to assess its growth potential.