Swiggy shares listed at a premium of 7.69 per cent on the National Stock Exchange (NSE) on November 13. The stock debuted at Rs 420 per share on the NSE over the IPO price of Rs 390, according to a report by Moneycontrol.

On the BSE, Swiggy shares were listed at Rs 412 per share, a premium of 5.6 per cent over the IPO price. Later, it surged 7.67 per cent to Rs 419.95. The company's market valuation briefly touched the Rs 1 lakh crore mark. In the early trade, it stood at Rs 89,549.08 crore during the early trade, elaborated the Moneycontrol report further. 

The stock scaled an intraday high of Rs 449 per share on the NSE, rising 15.12 per cent.<o:p></o:p> Swiggy shares made a modest listing on the stock exchanges. Initially the stock was commanding a flat grey market premium (GMP), still the stock opened at a healthy premium, surprising market watchers.<o:p></o:p>

However, shortly after the listing, Swiggy shares declined by nearly 5 per cent to trade at Rs 400.45 on the NSE, marking a 4.65 per cent drop at around 10.20 am. The early volatility in Swiggy's trading performance reflects mixed sentiments from investors amid market volatility.

Swiggy IPO got fully subscribed on the final day<o:p></o:p>

The Rs 11,327 crore initial public offer of Swiggy got fully subscribed on the final day of the share sale on Friday, ending with 3.59 times subscription. The initial share sale had a price range of Rs 371-390 a share.

Brokerage reports and coverage<o:p></o:p>

Meanwhile, analysts at the global brokerage firm Macquarie initiated coverage on Swiggy shares with an 'underperform' rating, recommending a price target of Rs 325 per share, detailed the Moneycontrol report further.<o:p></o:p>

The prominent brokerage believes that Swiggy has a reasonable growth trajectory ahead, though its journey to profitability may be challenging and uneven.

Akriti Mehrotra, Research Analyst at StoxBox has recommended holding Swiggy shares for a medium to long term investment outlook.

Basic details about Swiggy<o:p></o:p>

Swiggy operates in India's rapidly growing online food delivery and quick commerce sectors, which have seen significant expansion. The online food delivery market grew from Rs 112 billion in 2018 to Rs 640 billion in 2023 and is projected to reach Rs 1,400-1,700 billion by 2028, driven by rising incomes, urbanization and shifting life patterns

Swiggy, a leading player in online food delivery and quick commerce, is well-positioned to benefit from these trends, particularly in smaller cities, where demand for convenience is rising.

Market participants and investors will now closely follow the business performance of Swiggy post its listing, as that will help them in taking informed investment calls on the stock.<o:p></o:p>

<o:p>&nbsp;</o:p>

Swiggy shares listed at a premium of 7.69 per cent on the National Stock Exchange (NSE) on November 13. The stock debuted at Rs 420 per share on the NSE over the IPO price of Rs 390, according to a report by Moneycontrol.

Swiggy shares listed at a premium of 7.69 per cent on the National Stock Exchange (NSE) on November 13. The stock debuted at Rs 420 per share on the NSE over the IPO price of Rs 390, according to a report by Moneycontrol. On the BSE, Swiggy shares were listed at Rs 412 per share, a premium of 5.6 per cent over the IPO price. Later, it surged 7.67 per cent to Rs 419.95. The company's market valuation briefly touched the Rs 1 lakh crore mark. In the early trade, it stood at Rs 89,549.08 crore during the early trade, elaborated the Moneycontrol report further. The stock scaled an intraday high of Rs 449 per share on the NSE, rising 15.12 per cent. Swiggy shares made a modest listing on the stock exchanges. Initially the stock was commanding a flat grey market premium (GMP), still the stock opened at a healthy premium, surprising market watchers. However, shortly after the listing, Swiggy shares declined by nearly 5 per cent to trade at Rs 400.45 on the NSE, marking a 4.65 per cent drop at around 10.20 am. The early volatility in Swiggy's trading performance reflects mixed sentiments from investors amid market volatility. Swiggy IPO got fully subscribed on the final day The Rs 11,327 crore initial public offer of Swiggy got fully subscribed on the final day of the share sale on Friday, ending with 3.59 times subscription. The initial share sale had a price range of Rs 371-390 a share. Brokerage reports and coverage Meanwhile, analysts at the global brokerage firm Macquarie initiated coverage on Swiggy shares with an 'underperform' rating, recommending a price target of Rs 325 per share, detailed the Moneycontrol report further. The prominent brokerage believes that Swiggy has a reasonable growth trajectory ahead, though its journey to profitability may be challenging and uneven. Akriti Mehrotra, Research Analyst at StoxBox has recommended holding Swiggy shares for a medium to long term investment outlook. Basic details about Swiggy Swiggy operates in India's rapidly growing online food delivery and quick commerce sectors, which have seen significant expansion. The online food delivery market grew from Rs 112 billion in 2018 to Rs 640 billion in 2023 and is projected to reach Rs 1,400-1,700 billion by 2028, driven by rising incomes, urbanization and shifting life patterns Swiggy, a leading player in online food delivery and quick commerce, is well-positioned to benefit from these trends, particularly in smaller cities, where demand for convenience is rising. Market participants and investors will now closely follow the business performance of Swiggy post its listing, as that will help them in taking informed investment calls on the stock.

Swiggy shares rally 14% after underwhelming listing

Food tech giant Swiggy has filed its first updated draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) on September 26. The fresh issue component is for Rs 3,750 crore while the offer for sale would comprise 18.53 crore shares as detailed in a report by Moneycontrol. 

The report further stated that&nbsp;assuming the recent price of share purchases at around Rs 350 apiece, the Offer For Sale (OFS) component will be around Rs 6,500 crore.

Investors like Accel, Coatue, Alpha Wave, Elevation, Norwest, and Tencent will sell shares and reduce their ownership in the company to make way for new ones, as people bet on the company’s long-term growth potential and also look for diversification away from Zomato.

Earlier this week, it was reported that Sebi has approved Swiggy's confidential DRHP. India’s food delivery market, which is estimated to grow to Rs 2 lakh crore by 2030, is a duopoly with Swiggy and Zomato together commanding over 90 per cent of the food industry.

Brief history of Swiggy<o:p></o:p>

Swiggy is an Indian online food ordering and delivery company. Founded in 2014, Swiggy is headquartered in Bangalore and operates in more than 580 Indian cities, as of July 2023. Besides food delivery, the platform also provides quick commerce services under the name Swiggy Instamart, and same-day package deliveries with Swiggy Genie. It rivals homegrown startup Zomato in food delivery and hyperlocal marketplace. While Zomato went public in 2021, Swiggy is set to join its rival in the coming months.

Further, Prosus (32 per cent), SoftBank (8 per cent), Accel (6 per cent) are key investors in Swiggy. Elevation Capital, DST Global, Norwest, Tencent, Qatar Investment Authority (QIA), Singapore’s GIC, among several others are other shareholders in the company.

The company was valued at $10.7 billion when it last raised funds in January 2022. However, over the past months, bankers have expressed confidence that Swiggy can list with a market capitalisation/valuation of around $10-13 billion.

Swiggy’s IPO, the prep for which started back in November 2023 at least, is a hot one and has been highly anticipated. It was also reported earlier about Swiggy filing its draft IPO papers with the capital markets regulator, via the confidential route, back on April 26.

Since April, Swiggy has seen increased action in the secondaries market. HNIs and family offices have been buying shares in the company which was valued at $9-9.3 billion during secondary market transactions.

Food tech giant Swiggy has filed its first updated draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) on September 26. The fresh issue component is for Rs 3,750 crore while the offer for sale would comprise 18.

Food tech giant Swiggy has filed its first updated draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) on September 26. The fresh issue component is for Rs 3,750 crore while the offer for sale would comprise 18.53 crore shares as detailed in a report by Moneycontrol. The report further stated that assuming the recent price of share purchases at around Rs 350 apiece, the Offer For Sale (OFS) component will be around Rs 6,500 crore. Investors like Accel, Coatue, Alpha Wave, Elevation, Norwest, and Tencent will sell shares and reduce their ownership in the company to make way for new ones, as people bet on the company’s long-term growth potential and also look for diversification away from Zomato. Earlier this week, it was reported that Sebi has approved Swiggy's confidential DRHP. India’s food delivery market, which is estimated to grow to Rs 2 lakh crore by 2030, is a duopoly with Swiggy and Zomato together commanding over 90 per cent of the food industry. Brief history of Swiggy Swiggy is an Indian online food ordering and delivery company. Founded in 2014, Swiggy is headquartered in Bangalore and operates in more than 580 Indian cities, as of July 2023. Besides food delivery, the platform also provides quick commerce services under the name Swiggy Instamart, and same-day package deliveries with Swiggy Genie. It rivals homegrown startup Zomato in food delivery and hyperlocal marketplace. While Zomato went public in 2021, Swiggy is set to join its rival in the coming months. Further, Prosus (32 per cent), SoftBank (8 per cent), Accel (6 per cent) are key investors in Swiggy. Elevation Capital, DST Global, Norwest, Tencent, Qatar Investment Authority (QIA), Singapore’s GIC, among several others are other shareholders in the company. The company was valued at $10.7 billion when it last raised funds in January 2022. However, over the past months, bankers have expressed confidence that Swiggy can list with a market capitalisation/valuation of around $10-13 billion. Swiggy’s IPO, the prep for which started back in November 2023 at least, is a hot one and has been highly anticipated. It was also reported earlier about Swiggy filing its draft IPO papers with the capital markets regulator, via the confidential route, back on April 26. Since April, Swiggy has seen increased action in the secondaries market. HNIs and family offices have been buying shares in the company which was valued at $9-9.3 billion during secondary market transactions.

Food tech giant Swiggy files updated DRHP with SEBI for Rs 3,750 crore fresh issue

Prominent Bengaluru-based quick-commerce company Swiggy has received approval from the Indian markets regulator for its proposed $1.25 billion public issue according to reports. The food and grocery delivery platform had filed draft papers for the Initial Public Offering (IPO) with the Securities and Exchange Board of India (SEBI) through the confidential filing route in April this year, Economic Times reported citing an anonymous source. 

Swiggy will now need to file an updated draft red herring prospectus (UDRHP) with SEBI. A 21-day window will be provided for public feedback on the UDRHP before the IPO is launched.

The IPO is expected to raise Rs 3,750 crore ($450 million) in fresh capital, along with an offer-for-sale (OFS) component of up to Rs 6,664 crore ($800 million).

Bankers indicated the IPO size could increase before its launch. Major investors, including Prosus Swiggy’s largest shareholder with a 33 per cent stake and SoftBank, are likely to sell part of their holdings through the Offer For Sale (OFS). Other key shareholders include Accel, Elevation Capital, Meituan, Tencent, Norwest Venture Partners, DST Global, Coatue, Invesco, and GIC.

Swiggy’s annual report and financial health

Moneycontrol, mentioning Swiggy’s annual report that it had accessed, had reported earlier this month that its revenue grew 36 per cent from Rs 8,265 crore in financial year 2023 to Rs 11,247 crore in FY24.

During the same period, its losses were down 44 per cent from Rs 4,179 crore to Rs 2,350 crore. The loss reduction was largely attributed to stronger control on expenses during the year.

While Swiggy’s core business grew 36 per cent, it still trailed Zomato during the financial year. Gurugram-based Zomato, in comparison, had a revenue of Rs 12,114 crore (vs Swiggy’s Rs 11,247 crore) and clocked a profit of Rs 351 crore (vs Swiggy’s loss of Rs 2,350 crore) in FY24.

Still, while Swiggy closed the gap with its listed rival Zomato on the food delivery front, its Instamart grocery delivery business continued to lag with Blinkit. Swiggy Instamart clocked a revenue of Rs 1,100 crore in FY24. In the same year, Blinkit’s Rs 2,301 crore in the same year.

<o:p>&nbsp;</o:p>

Prominent Bengaluru-based quick-commerce company Swiggy has received approval from the Indian markets regulator for its proposed $1.25 billion public issue according to reports.

Prominent Bengaluru-based quick-commerce company Swiggy has received approval from the Indian markets regulator for its proposed $1.25 billion public issue according to reports. The food and grocery delivery platform had filed draft papers for the Initial Public Offering (IPO) with the Securities and Exchange Board of India (SEBI) through the confidential filing route in April this year, Economic Times reported citing an anonymous source. Swiggy will now need to file an updated draft red herring prospectus (UDRHP) with SEBI. A 21-day window will be provided for public feedback on the UDRHP before the IPO is launched. The IPO is expected to raise Rs 3,750 crore ($450 million) in fresh capital, along with an offer-for-sale (OFS) component of up to Rs 6,664 crore ($800 million). Bankers indicated the IPO size could increase before its launch. Major investors, including Prosus Swiggy’s largest shareholder with a 33 per cent stake and SoftBank, are likely to sell part of their holdings through the Offer For Sale (OFS). Other key shareholders include Accel, Elevation Capital, Meituan, Tencent, Norwest Venture Partners, DST Global, Coatue, Invesco, and GIC. Swiggy’s annual report and financial health Moneycontrol, mentioning Swiggy’s annual report that it had accessed, had reported earlier this month that its revenue grew 36 per cent from Rs 8,265 crore in financial year 2023 to Rs 11,247 crore in FY24. During the same period, its losses were down 44 per cent from Rs 4,179 crore to Rs 2,350 crore. The loss reduction was largely attributed to stronger control on expenses during the year. While Swiggy’s core business grew 36 per cent, it still trailed Zomato during the financial year. Gurugram-based Zomato, in comparison, had a revenue of Rs 12,114 crore (vs Swiggy’s Rs 11,247 crore) and clocked a profit of Rs 351 crore (vs Swiggy’s loss of Rs 2,350 crore) in FY24. Still, while Swiggy closed the gap with its listed rival Zomato on the food delivery front, its Instamart grocery delivery business continued to lag with Blinkit. Swiggy Instamart clocked a revenue of Rs 1,100 crore in FY24. In the same year, Blinkit’s Rs 2,301 crore in the same year.

Swiggy secures SEBI approval for $1.25 Billion IPO, paving the way for major expansion

Swiggy, the prominent Indian food delivery platform backed by SoftBank, is reportedly gearing up to file for its domestic initial public offering (IPO) as early as this week. This move is part of a broader trend of increasing share sales in India, highlighting the growing interest in the country's tech sector as detailed in a report by Bloomberg.

Sources familiar with the matter indicated that Swiggy's IPO could aim to raise more than $1 billion, although specific details remain confidential, at this stage. The Bengaluru-based company is currently,&nbsp;awaiting approval from the Securities and Exchange Board of India (Sebi) to proceed with the filing, which is a crucial step in the IPO process.

Signifies a rapidly growing Indian digital economy<o:p></o:p>

The anticipated IPO comes, at a time when Indian start-ups are increasingly turning to public markets to secure funding and expand their operations. Over the past year, several tech companies have successfully launched IPOs, reflecting a robust appetite from investors for shares in the rapidly growing Indian digital economy.

Swiggy, which has become a household name in India, has seen significant growth in its user base and revenue, driven by the rising demand for food delivery services, particularly in urban areas. The company has also diversified its offerings, venturing into grocery delivery and other services, further solidifying its position in the competitive landscape.

As Swiggy prepares for its IPO, it joins a list of other notable Indian startups that have recently gone public or are planning to do so. This trend underlines the increasing maturity of the Indian startup ecosystem and its ability to attract substantial investment from both domestic and international markets.

The filing of Swiggy's IPO is expected to be closely watched by investors and analysts alike, as it will provide insights into the company's financial health and growth prospects. With the ongoing digital transformation in India, Swiggy's entry into the public market could pave the way for further innovations and expansions within the food delivery sector.

Therefore, Swiggy's approaching IPO filing marks a significant milestone for the company and the Indian startup landscape as a whole. Hence, as the company awaits regulatory approval, the market will be keenly observing how this development unfolds, potentially setting the stage for a new chapter in Swiggy's journey and the broader narrative of India's digital economy.

It is important to note that, a little while ago even Reuters stated in a report that, SoftBank-backed Indian food delivery giant Swiggy might target a valuation of around $15 billion for its upcoming stock market offering to raise $1-1.2 billion. It is hence to be seen how and when the company aims&nbsp;to unveil its listing and growth plans for the investor community.

Swiggy, the prominent Indian food delivery platform backed by SoftBank, is reportedly gearing up to file for its domestic initial public offering (IPO) as early as this week.

Swiggy, the prominent Indian food delivery platform backed by SoftBank, is reportedly gearing up to file for its domestic initial public offering (IPO) as early as this week. This move is part of a broader trend of increasing share sales in India, highlighting the growing interest in the country's tech sector as detailed in a report by Bloomberg. Sources familiar with the matter indicated that Swiggy's IPO could aim to raise more than $1 billion, although specific details remain confidential, at this stage. The Bengaluru-based company is currently, awaiting approval from the Securities and Exchange Board of India (Sebi) to proceed with the filing, which is a crucial step in the IPO process. Signifies a rapidly growing Indian digital economy The anticipated IPO comes, at a time when Indian start-ups are increasingly turning to public markets to secure funding and expand their operations. Over the past year, several tech companies have successfully launched IPOs, reflecting a robust appetite from investors for shares in the rapidly growing Indian digital economy. Swiggy, which has become a household name in India, has seen significant growth in its user base and revenue, driven by the rising demand for food delivery services, particularly in urban areas. The company has also diversified its offerings, venturing into grocery delivery and other services, further solidifying its position in the competitive landscape. As Swiggy prepares for its IPO, it joins a list of other notable Indian startups that have recently gone public or are planning to do so. This trend underlines the increasing maturity of the Indian startup ecosystem and its ability to attract substantial investment from both domestic and international markets. The filing of Swiggy's IPO is expected to be closely watched by investors and analysts alike, as it will provide insights into the company's financial health and growth prospects. With the ongoing digital transformation in India, Swiggy's entry into the public market could pave the way for further innovations and expansions within the food delivery sector. Therefore, Swiggy's approaching IPO filing marks a significant milestone for the company and the Indian startup landscape as a whole. Hence, as the company awaits regulatory approval, the market will be keenly observing how this development unfolds, potentially setting the stage for a new chapter in Swiggy's journey and the broader narrative of India's digital economy. It is important to note that, a little while ago even Reuters stated in a report that, SoftBank-backed Indian food delivery giant Swiggy might target a valuation of around $15 billion for its upcoming stock market offering to raise $1-1.2 billion. It is hence to be seen how and when the company aims to unveil its listing and growth plans for the investor community.

Indian food delivery giant Swiggy prepares for IPO filing this week

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Swiggy shares rally 14% after underwhelming listing

Food tech giant Swiggy files updated DRHP with SEBI for Rs 3,750 crore fresh issue

Swiggy secures SEBI approval for $1.25 Billion IPO, paving the way for major expansion

Indian food delivery giant Swiggy prepares for IPO filing this week