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Swiggy shares fall almost 6% after IPO
Shares of Swiggy dropped nearly 6% on their second day of trading following a recent listing on stock exchanges.
At the Bombay Stock Exchange, shares fell 5.72% to 429.85 rupees (US$5.18) each, with an intra-day dip to 418.65 rupees (US$5.03).
On the National Stock Exchange, Swiggy shares closed at 430.70 rupees (US$5.19), down 5.54%.
Swiggy’s IPO, valued at 11,327 crore rupees (US$1.34 billion) was fully subscribed by the final day. It achieved a subscription rate of 3.59 times, with a price range from 371 to 390 rupees (US$4.38 – US$4.60) per share.
Recent Swiggy developments
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13-Nov-2024 📈 Swiggy shares surge on market debut after $1.4b IPO
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06-Nov-2024 📈 Swiggy raises $606m from anchor investors before IPO launch
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29-Oct-2024 📈 Swiggy gears up for $11.3b IPO in November
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28-Oct-2024 📉 Swiggy cuts IPO valuation to $11.3b amid market challenges
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25-Apr-2024 📈 Swiggy aims to raise $1.25b in planned IPO
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