Swiggy shares in focus ahead of first Q2 results after listing
Swiggy shares will be in focus on Tuesday as the food delivery giant, which has seen an impressive 27% increase over its IPO issue price of Rs 390, will be releasing its financial results for the second quarter ended September today.
The food and quick delivery company debuted on the Dalal Street on November 13, with the company's shares listing on the NSE at Rs 420, reflecting a 7.7% increase from the IPO issue price, while on the BSE, the stock debuted at Rs 412, showing a 5.6% premium over the issue price.
Swiggy's Rs 11,327 crore public offering was subscribed 3.59 times. The retail investors category subscribed 1.14 times, while the portion reserved for employees saw 1.65 times bidding.
The IPO comprised a fresh issue worth Rs 4,499 crore and an offer-or-sale component of Rs 6,828 crore. The share sale was conducted within a price band of Rs 371-390 per share.
The company has incurred net losses in each year since incorporation and have negative cash flows from operations.
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