NEW DELHI: SoftBank-backed Swiggy, which made its trading debut on Wednesday, saw its shares closing 16.91% higher at Rs 455.95 on the BSE. This signals investor confidence and growth in food and grocery delivery space. Its IPO price was Rs 390, and shares opened at Rs 420 on Wednesday.
Shares closed at Rs 456 on the NSE, registering a market capitalisation of over Rs 1.03 lakh crore. Earlier, to mark this moment, some of Swiggy’s delivery partners joined its leadership team — Sriharsha Majety, Nandan Reddy, Rohit Kapoor, and others— on stage to ring the ceremonial bell. As per reports, the platform’s market debut might make 500 of its employees crorepatis due to food delivery giant’s Employee Stock Option Plans (ESOPs). Swiggy’s current valuation is about $12 billion.
It has cumulatively enabled over Rs 1,000 crore of ESOPs liquidity over five events, benefitting over 3,200 employees. Swiggy’s rival Zomato’s CEO Deepinder Goyal congratulated Swiggy for its market debut. “Couldn’t have asked for a better company to serve India with,” Goyal posted on X. Swiggy recently announced expansion of leadership team with two key appointments that are aimed at strengthening operations and execution across its food delivery and quick commerce verticals.