Swiggy IPO: ‘It takes a village’: Swiggy debuts at 8% premium over IPO price

Shares of food and grocery delivery player Swiggy made its debut on Dalal Street with a 7.69% premium over its IPO price of Rs 390 on NSE, listing at Rs 420.

It debuted with a premium of 5.64% at Rs 412 on BSE.

Following the listing, shares slid, trading at Rs 401.3 on the BSE and Rs 400.8 on the NSE, as of 10.10 AM.

The issue, which opened on November 6, was subscribed 3.6 times the shares on offer driven by institutional investors on the third and final day. Retail investors subscribed to their portion 1.14 times, while the portion reserved for employees saw 1.65x bidding. Non-institutional investors, which include corporates and high net worth individuals (HNIs), bid for only 41% of the shares reserved for them.

Swiggy had set the price band for its IPO at Rs 371-390 per equity share of the face value of Re 1.