Swiggy Ltd.’s shares climbed in their Mumbai debut, signaling a vote of confidence for large initial public offerings in India.

The current grey market premium (GMP) of ₹2 indicates a muted listing of Swiggy shares on the domestic bourses.

The Swiggy IPO got a fairly sluggish response, subscribed just over three times, mostly by institutional investors on the last day, just like the Hyundai IPO

Swiggy is scheduled to launch its shares on the stock market on November 13, 2024, having achieved a subscription rate of 3.59 times, indicating a reasonable level of interest from investors. The firm is active in India's swiftly expanding online food delivery and quick commerce industries, which have experienced substantial growth.

Shares of Indian startup Swiggy surged at its Mumbai debut, driven by strong institutional interest in the food and grocery delivery company.Its shares rose as much as 15% from its offer price to 448.

Swiggy Share Price, IPO Listing, Swiggy IPO Subscription Status Highlights: The company raised Rs 945.40 crore from anchor investors by selling 315.13 million shares.

As Swiggy raises ₹11,327 cr in India’s 2nd-largest IPO, 500 employees stand to earn ₹1 cr each from a ₹9,000 cr ESOP payout

Swiggy Ltd had set a price band of Rs 371-390 per share for its Rs 11,300 crore initial public offering. The offer consisted of a fresh issue of Rs 4,499 crore and an offer-for-sale of Rs 6,825 crore.

According to CLSA, these firms are set to top $78 billion in combined gross orders within a decade, potentially affecting existing consumer-product majors like Hindustan Unilever Ltd. and Marico Ltd

The company's IPO, the country's second-largest this year, was reportedly oversubscribed more than three times.

The IPO comprised of both a offer for sale of shares worth 68.28 billion rupees and a fresh issue of shares of 44.99 billion rupees.