Tired of ads? Enjoy an ad-free experience by signing up.
👩‍🍳 How we use AI at Tech in Asia, thoughtfully and responsibly.
🧔‍♂️ A friendly human may check it before it goes live. More news here

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

Timeline
13-Nov-2024 📈 Swiggy shares surge on market debut after $1.4b IPO
  • Swiggy shares rise 7.7% post-IPO debut
  • IPO oversubscribed by institutional investors
06-Nov-2024 📈 Swiggy raises $606m from anchor investors before IPO launch
  • Swiggy secures $606M from 75+ investors
  • Prepares for $1.35B IPO aiming for $11.3B valuation
29-Oct-2024 📈 Swiggy gears up for $11.3b IPO in November
  • Swiggy’s IPO priced at Rs 371-390 per share
  • IPO launches on November 6, valued at Rs 11,300 crore
28-Oct-2024 📉 Swiggy cuts IPO valuation to $11.3b amid market challenges
  • Swiggy cuts IPO valuation to $11.3 billion
  • BlackRock to join in $1.4 billion IPO offering
25-Apr-2024 📈 Swiggy aims to raise $1.25b in planned IPO
  • Swiggy plans $1.25B IPO, shareholder approval secured.
  • Valued over $12B, dominates India’s food delivery market.

Stay ahead in Asia’s tech landscape

You've reached your 2 free content limit for the month. Sign up for free to read the full story.

🏄 For casual readers / 👶 Free

Basic

US$0

Free forever

Get instant access to this article and more every month

0 premium content

Unlimited news briefs

5

5 articles

Ad-free reading experience

Just US$0 per day

⌛Sign up in 20s. No payment details needed.

📖 For learners / 👍 Starter

Lite

US$4.92/month

Billed annually at US$59/year

Get instant access to this article and more every month

4

4 premium content

Unlimited news briefs & articles

Ad-free reading experience

Just US$0.17 per day

Cancel anytime

Our subscriber community includes professionals from these companies:

Stay updated on the go with our mobile app.

Get latest insights with smoother, more personalized experience through TIA mobile app.