Swiggy Is Now Listed
In what is seen as one of the most anticipated listings in 2024, food and quick-delivery service, Swiggy was listed at the National Stock Exchange (NSE) at 10:00 IST on November 13. The company was listed at the price of Rs 408 per share, against its issue price of Rs 390.
Zomato Welcomes Swiggy
Although the company was welcomed to Dalal Street with a muted response, Swiggy's biggest rival, Zomato, in a gesture of goodwill, welcomed the brand as it entered the corridor of equity markets.
In a post on X, through its official handle, Zomato said, "You and I... In this beautiful world ❤️ @Swiggy."
Swiggy was quick to respond. The newly listed company marked the response in a reply to the original post by Zomato and said, "it’s giving jai and veeru"
The Delivery World
Deepinder Goyal-led Zomato was listed on the equity markets in July of 2021.
Swiggy and Zomato are two of the biggest players in this fast-growing market. Swiggy, apart from its food delivery service, also offers grocery and essential delivery through its Swiggy Instamart service. It also has the Swiggy Genie service, which is a part of its portfolio. On the other hand, Zomato also has similar services under its belt. Zomato acquired Groferes, now Blinkit, to focus on its quick service business and had contributed significantly to its business. Other key players in the market include Zepto.
As of Wednesday, November 13, Swiggy shares are worth Rs 437.95, having gained Rs 25.95 or 6.30 per cent. When it comes to Zomato, the company shares stand at Rs 261.60, having gained Rs 0.61 or 0.23 per cent in the intraday trade on Wednesday.
