'You and I...': Zomato Welcomes Swiggy To The Stock Market With A Friendly Note

Zomato CEO Deepinder Goyal also congratulated Swiggy on its successful listing. "Congratulations Swiggy! Couldn't have asked for a better company to serve India with," Goyal said

As of 1 pm, Swiggy's shares were trading at Rs 439.20 on the National Stock Exchange

Source : Zomato Instagram

Zomato greeted Swiggy’s stock market debut on Tuesday with a warm and playful message on social media. 

"You and I... In this beautiful world," read the post on X, accompanied by a photo of Zomato and Swiggy delivery riders standing in front of the Bombay Stock Exchange (BSE). The image also featured a banner celebrating Swiggy’s listing, symbolising a friendly gesture between the two food delivery rivals.

Zomato CEO Deepinder Goyal also congratulated Swiggy on its successful listing. "Congratulations Swiggy! Couldn't have asked for a better company to serve India with," Goyal said.

As of 1 pm, Swiggy's shares were trading at Rs 439.20 on the National Stock Exchange (NSE).

 

 

 

 

 

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Swiggy IPO Listing

Swiggy has officially debuted on the BSE and NSE following its highly anticipated IPO. The company’s shares opened at Rs 420 on the NSE, reflecting a 7.69 per cent premium over the IPO price of Rs 390, surpassing initial market expectations.

The IPO, priced between Rs 371 and Rs 390 per share, raised Rs 11,327 crore, driven by strong demand from institutional investors. Qualified Institutional Buyers (QIBs) were particularly active, subscribing 6.02 times the allocated shares, while the retail portion saw a more modest subscription of 1.14 times.

Swiggy's IPO was oversubscribed by 3.59 times, although interest from non-institutional investors was comparatively low, with the subscription rate at just 0.41 times. The listing delivered solid returns for major backers like Prosus NV.

However, broader market sentiment remained subdued, with the BSE Sensex falling by over 170 points to 78,495 and the Nifty50 slipping 61 points to 23,822 in early trading.

Swiggy’s market debut also marks the 50th mainboard IPO on the NSE this year, underscoring the growing investor appetite for India's booming tech and startup sector.

Meanwhile, Zomato shares saw a modest rise of nearly 1 per cent in early trade.