Swiggy’s stock settles at 456 on debut, up by 16.92% than issue price of 390
Food and quick delivery company Swiggy on Wednesday settled at Rs 456 on its debut after climbing 16.92% from its issue of Rs 390. Additionally, the market capitalization of the company crossed one lakh crore.
The company’s shares debuted on the NSE at Rs 420, registering a 7.69 per cent increase from the issue price. Meanwhile, on BSE, the stock was listied at Rs 412, showing a 5.64 per cent increase.
The company’s Rs 11,327-crore public offering was subscribed 3.59 times. Retail investors category was subscribed 1.14 times, while the portion reserved for employees saw 1.65 times bidding.
The IPO comprised a fresh issue worth Rs 4,499 crore and an Offer-For-Sale component of Rs 6,828 crore. The share sale was conducted within a price…
