Swiggy IPO Listing: Internet reacts with hilarious memes, and even competitor Zomato joins in

Swiggy made its grand debut on the stock exchanges today with the launch of its Rs 11,300-crore IPO, which includes a Rs 4,499 crore capital raise and an offer for sale (OFS) of shares worth Rs 6,828 crore. With a price band of Rs 371-390 per share, the IPO was oversubscribed by 3.59 times. The food and grocery delivery giant had one of the biggest offerings this year, second only to Hyundai Motor India's Rs 27,870-crore IPO. And, as with anything big these days, the internet has exploded with reactions and memes—oh, and even Swiggy's competitor, Zomato, couldn't resist joining the fun!

Zomato's post has quickly gone viral, with over 150k views within an hour. Check it out below:

Here's how others responded:

Swiggy IPO Listing: All that happened

Swiggy's IPO is set to unlock a huge Rs 9,000 crore in employee stock options (ESOPs), making it one of the biggest payouts in India's startup scene, rivalling Flipkart's $1.4–1.5 billion distribution.?

The company’s Rs 11,300-crore IPO marks the largest tech offering since Paytm's public debut in 2019.?

Employees who receive shares can sell them just a month after the listing, thanks to a special waiver on the typical one-year lock-in period granted by SEBI earlier this year.

Despite its recent losses, with a Rs 2,350 crore loss in FY24 compared to Rs 4,179 crore in FY23, Swiggy's income grew to Rs 11,634 crore in FY24, up from Rs 8,714 crore.?

The company also reported a Rs 611 crore loss in Q1 FY25, worse than last year's Rs 564 crore, while total income for the quarter stood at Rs 3,310 crore, up from Rs 2,509 crore.

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