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Swiggy Delivers Big in Market Debut, Serving Up a 7.7% Gain Over IPO Prices on NSE and BSE!

Swiggy's shares soared in their market debut, launching at ₹420 on NSE and ₹412 on BSE, up 7.7% and 5.64% respectively, showing a robust start for the company.

Swiggy’s shares began trading on the NSE at ₹420 on Wednesday, marking a 7.7% increase from its IPO price of ₹390. On the BSE, the shares opened at ₹412, which is 5.64% higher than the issue price, showing a positive start for the company.

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Swiggy Limited’s IPO concluded with a strong 3.59x subscription on its final day. QIBs showed significant interest at 6.02x, while NIIs, RIIs, and employees subscribed at 0.41x, 1.14x, and 1.65x respectively, demonstrating high confidence in Swiggy’s business model and growth prospects.

Swiggy, a cutting-edge technology company, offers a comprehensive app for ordering food, groceries, and household items, and making reservations for dining and events. Users can also access delivery services and participate in hyperlocal commerce. Payments collected from users cover product costs, delivery fees, and other charges, with partners receiving their share periodically after deductions.

Swiggy’s IPO aims to fund SCOOTSY’s loan repayments, expansion via dark stores, enhance technology, boost brand visibility, and support corporate growth and operational needs with strategic investments across multiple areas.

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