Swiggy, a company that takes online food orders and delivers them, got listed in the stock market today. The company’s shares, listed amid a long-term downturn in the stock market, performed well on the first day of trading. They closed at ₹455.95, up ₹65.95 (16.91%) from the issue price. Swiggy had allotted shares at ₹390 per share in its IPO.
Swiggy IPO Listed with Premium on NSE and BSE
Swiggy’s shares were listed today on the NSE at ₹420, with a premium of 7.69%, and on the BSE at ₹412, with a premium of 5.64%. During the trading session, the shares reached an intraday low of ₹390.70 and an intraday high of ₹465.30 on BSE. After the first day of trading, Swiggy’s market cap reached ₹1,02,062.01 crore. Considering the Indian stock market has been in a downtrend for about a month and a half, Swiggy’s listing with a gain and closing in the green is a big deal in itself.
Over 500 Employees Become Crorepatis
With Swiggy’s listing, more than 500 current and former employees have joined the list of ‘crorepatis.’ According to sources, Swiggy allotted shares worth ₹9,000 crore to 5,000 employees under the Employee Stock Ownership Plan (ESOP) at ₹390 per share. Employees will benefit from the increase in share price following the company’s market listing.
Swiggy IPO Subscription Details
Swiggy raised ₹11,327 crore from its IPO, which was oversubscribed by 3.59 times. New shares worth ₹4,499 crore were issued in the IPO, while the company’s promoters issued shares worth ₹6,828 crore through the Offer for Sale (OFS).
How to Register for Swiggy IPO Subscription: A Step-by-Step Guide
Step 1: Open Demat and Trading Account
Choose a stockbroker (e.g., Zerodha, Upstox, ICICI Direct).
Complete KYC with PAN, Aadhaar, and bank details.
Link your savings account to the Demat account.
Step 2: Log In to Your Trading Platform
Log in to the broker’s app or website.
Go to the IPO Section.
Step 3: Select Swiggy IPO
Find Swiggy IPO in the list.
Click Apply.
Step 4: Enter Bid Details
Select the number of lots.
Choose your bid price or opt for the cut-off price.
Confirm the investment amount.
Step 5: Make Payment via UPI
Enter your UPI ID.
Approve the UPI mandate in your app.
Step 6: Submit Your Application
Review your details and submit the application.
Note the Application Reference Number (ARN).
Step 7: Check Allotment Status
After the allotment date, check the status on the registrar’s website (e.g., Link Intime).
Shares, if allotted, will be credited to your Demat account.