Swiggy makes strong debut, serving up fresh competition to Zomato

Swiggy makes strong debut, serving up fresh competition to Zomato

Managing Director and Group Chief Executive Officer of Swiggy, Sriharsha Majety and Managing Director and CEO of National Stock Exchange of India Ashishkumar Chauhan pose with the statue of the NSE bull ahead of the listing ceremony of its Initial Public Offering (IPO) at the National Stock Exchange (NSE) in Mumbai, India, November 13, 2024. REUTERS/Francis Mascarenhas

Softbank-backed Swiggy debuted on the Indian stock exchanges on Wednesday at Rs 420 apiece—an 8% premium over its issue price of Rs 390. The shares ended the day at nearly Rs 464 apiece on the National Stock Exchange (NSE Ltd.), marking a 19% gain from the issue price and valuing the company at $12.1 billion.

Edited by: Pramod Mathew

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