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Swiggy IPO: Swiggy, a company that takes online orders and delivers food items, got listed in the stock market today. The company’s shares, which were listed amid a long-term downturn in the stock market, performed well on the first day of trading and closed at Rs 455.95, up 65.95 rupees (16.91%) from its issue price. Let us tell you that Swiggy had allotted shares at a price of Rs 390 per share under its IPO.
The IPO was listed on NSE with a 7.69 percent premium
The company’s shares were listed today at Rs 420 on NSE with a premium of 7.69 percent and at Rs 412 on BSE with a premium of 5.64 percent. During the trading on the day of listing, the company’s shares touched an intraday low of Rs 390.70 and an intraday high of Rs 465.30 on BSE. After the first day’s trading, the company’s market cap reached Rs 1,02,062.01 crore.
Let us tell you that the Indian stock market has been in a downtrend for about one and a half months and in such circumstances, Swiggy’s listing in the market with a gain and then closing in the green mark with a gain is a big thing in itself.
More than 500 employees of the company became millionaires
With the listing in the stock market, more than 500 current and former employees of the company have joined the list of ‘crorepatis’. People associated with the matter said that Swiggy has allotted shares worth Rs 9,000 crore to 5,000 employees under the Employee Stock Ownership Plan (ESOP) at the upper range of the issue price of Rs 390 per share. Employees will benefit from the company’s listing in the market and the increase in the share price.
The IPO received a total subscription of 3.59 times
Let us tell you that Swiggy has raised Rs 11,327 crore from its IPO. The company’s IPO received a total subscription of 3.59 times. New shares worth Rs 4499 crore were issued in Swiggy’s IPO and through OFS, the company’s promoters issued shares worth Rs 6828 crore.
