Swiggy Limited’s IPO has been listed on the stock exchange today (13 November). Swiggy’s share was listed at ₹ 420 on NSE, 7.69% above the issue price. On BSE, it was listed at ₹ 412, 5.64% above the issue price. Its issue price was ₹ 390 per share. After the day’s trading, the share closed at ₹ 455.95, up 16.91% from the issue price.
At the same time, ACME Solar Holdings’ share was listed at ₹ 251 on NSE, 13.15% below the issue price. On BSE, this share was listed at ₹ 259, 10.38% below the issue price. The issue price of ACME Solar Holdings’ initial public offer was ₹ 289 per share. After the day’s trading, it closed at 253.50, down 12.28% from the issue price.
Swiggy Limited’s IPO issue was worth ₹11,327.43 crores
The total IPO of Swiggy Limited was worth ₹11,327.43 crores. For this, the company issued 11,53,58,974 fresh shares worth ₹4,499 crores. Whereas, the existing investors of the company sold 17,50,87,863 shares worth ₹6,828.43 crores through Offer for Sale i.e. OFS.
500 employees became millionaire with the listing
With the listing of Swiggy, about 500 employees of the company have become crorepatis. These are the employees who were issued shares of the company on a large scale under a special scheme even before the listing. Swiggy had introduced the Employee Stock Option Scheme (ESOP) thrice in 2015, 2021 and 2024. Under ESOP, more than 4,000 employees were given small stakes in the company. These are equivalent to about 23 crore shares of the company.
Retail investors could bid for a maximum of 494 shares
Swiggy Limited had fixed the price band of the IPO at ₹ 371-₹ 390. Retail investors could bid for a minimum of one lot i.e. 38 shares. If you had applied for 1 lot as per the upper price band of the IPO of ₹ 390, then you would have to invest ₹ 14,820 for it.
At the same time, retail investors could have applied for a maximum of 13 lots i.e. 494 shares. For this, investors would have to invest ₹192,660 according to the upper price band.
Swiggy Limited’s revenue increased by 36% in FY 2024
Swiggy’s revenue grew by 36% to Rs 11,247 crore in FY 2024 from Rs 8,265 crore in the previous financial year. At the same time, the company also reduced its losses by 44% during this period and stood at Rs 2,350 crore in FY 2024 from Rs 4,179 crore in the previous year. The company has been helped in reducing losses by keeping its costs under control.
Although Swiggy’s performance is lower than that of Zomato, it has still reduced the gap with its rival in FY24. Zomato recorded a revenue of Rs 12,114 crore in FY 2024, while Swiggy’s revenue stood at Rs 11,247 crore. Similarly, Zomato posted a profit of Rs 351 crore, while Swiggy incurred a loss of Rs 2,350 crore.
