Swiggy's IPO Success: Shares Surge, Employees Prosper
TL;DR Summary
Swiggy, the Indian food delivery giant, saw its shares rise nearly 8% on its trading debut after completing the country's second-largest IPO of the year, raising 113.27 billion rupees ($1.34 billion). The IPO was oversubscribed more than three times, with strong interest from institutional and retail investors. Proceeds from the IPO will be used to pay down borrowings and fund potential acquisitions.
- India's Swiggy sees shares jump about 8% on debut after country's second-largest IPO this year CNBC
- Swiggy IPO will turn 5,000 employees into crorepatis today Hindustan Times
- Zomato stock slips 2.5% after Macquarie flags downside risks Moneycontrol
- How Swiggy Beat Amazon to 13-Minute Grocery Deliveries in India Bloomberg
- Swiggy's stock surges on debut, lists 7.7% above issue price at Rs 420 on NSE The Times of India
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