Swiggy shares initially debuted at ₹412 on the BSE, marking a 5.64% premium over the issue price, and reached a high of ₹465.80 toward market close. Despite some early volatility, investor enthusiasm grew, reflecting optimism for Swiggy’s potential to capitalize on India’s fast-evolving food delivery and quick commerce markets.

Financial analysts, however, have noted that while Swiggy demonstrates strong growth potential, it has faced persistent losses over recent years. Bajaj Broking commented that Swiggy’s journey toward profitability will likely be dynamic, with the company needing to balance its aggressive expansion plans with a push toward sustainable financial performance.

In another major development, Swiggy’s IPO is set to benefit its employees substantially. According to its Red Herring Prospectus, Swiggy has a total of 231 million outstanding Employee Stock Options (ESOPs) valued at ₹9,046.65 crore, potentially making nearly 500 Swiggy employees “crorepatis” based on their ESOP holdings. With the IPO’s success, around 5,000 employees are projected to benefit from the ESOP payouts. Swiggy’s ₹11,327 crore IPO was subscribed 3.59 times, receiving a tepid response from high-net-worth investors but strong backing from institutional investors.

Swiggy’s market entry reflects growing investor confidence in India’s digital economy, with the stock expected to play a key role in the country’s burgeoning food delivery and quick commerce sectors.

The post Swiggy Makes Strong Recovery Post-IPO, Closes with 16.91% Gain and Hits ₹1 Lakh Crore Market Cap appeared first on Vizag One.