Swiggy's strong market debut: how new-age companies fared on Day 1
Swiggy listed at Rs 421, an 8% premium over its issue price of Rs 390 on Wednesday, becoming the latest new-age company to debut on public markets.
The stock closed at Rs 455.95 on the NSE,reaching Rs 464 during the day’s session.
The past three years have seen significant IPOs from tech companies, the latest being Ola Electric, FirstCry, and Awfis. Here's a snapshot of notable new-age market debuts and Day 1 gains:
Zomato
Swiggy’s competitor Zomato hit the bourses in July 2021 at Rs 115 on the BSE. This was a premium of 51.3% over the IPO price of Rs 76, and the stock went as high as 81% over the issue price to log a day's high of Rs 138. It ended at Rs 125.85, up 65.6%.
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