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

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Swiggy shares rally 14% after underwhelming listing