Rival Zomato's CEO congratulates Swiggy on stock market listing

In a kind gesture, Zomato CEO Deepinder Goyal on Wednesday congratulated rival Swiggy on its stock market debut, whose shares got listed at a premium of nearly 8 per cent on the NSE. "Congratulations @swiggy! Couldn't have asked for a better company to serve India with..," Goyal said in a post on X, tagging another post by Zomato which said, "You and I... In this beautiful world @Swiggy".

Swiggy got listed at Rs 420, a jump of nearly 8 per cent from the issue price on the NSE. The Rs 11,327-crore initial public offer of Swiggy got fully subscribed on the final day of the share sale on Friday, ending with 3.59 times subscription.

Marking its stock market debut, Swiggy rolled out an ad film encapsulating the brand's ethos and the decade-long journey that led to the milestone.

In a tribute to the backbone of Swiggy's operations, two of the company's delivery partners, Jigar Khan and Namrata Vora, were invited to join Swiggy's Co-Founders and Management Team on stage at the National Stock Exchange.

"Together, they rang the ceremonial bell, symbolising the collective effort of Swiggy's delivery network and honouring their vital role in the company's success. This gesture reinforced Swiggy's commitment to celebrating the hard work and contributions of its delivery heroes, who are at the heart of the brand's journey from a startup to a publicly listed company," Swiggy said in a statement.

The Bengaluru-based company's IPO was priced in the range of Rs 371-390 a share.