Swiggy IPO Listing: Internet reacts with hilarious memes, and even competitor Zomato joins in
Swiggy's IPO has got everyone talking, with memes and reactions flooding social media. As the company goes public with a massive Rs 11,300 crore offering, even Zomato joined the fun, adding its own twist to the excitement!
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¡ªoh, and even Swiggy's competitor, Zomato, couldn't resist joining the fun!
Congratulations Swiggy Limited on getting listed on NSE today. Swiggy Limited provides its users with an easy-to-use platform that they can access via a single app to search, select, order, and pay for food (Food Delivery), grocery and household goods (Instamart) and have orders¡ pic.twitter.com/RKC9l0FnF1
¡ª NSE India (@NSEIndia) November 13, 2024
Zomato's post has quickly gone viral, with over 150k views within an hour. Check it out below:
You and I... In this beautiful world ?? @Swiggy pic.twitter.com/sAFzd8z07E
¡ª zomato (@zomato) November 13, 2024
Here's how others responded:
excitement mein 20 litre chai pe li #SwiggyIPO pic.twitter.com/t1KDT3o30E
¡ª Swiggy Food (@Swiggy) November 13, 2024
When you don't invest in Swiggy IPO but see your mutual fund invest in it ? pic.twitter.com/Qvkn3JIEDD
¡ª Finance Memes (@Qid_Memez) November 12, 2024
zindagi mein koi ipo nahi laga aajtak iss chakkar mein swiggy mein bhi daal diye the aur bc saari lot mil gayi aisi phooti kismat na dekhi
¡ª vishal dayama (@VishalDayama) November 12, 2024
?#SwiggyIPO #MutualFunds pic.twitter.com/a53h7iYmdT
¡ª Finance Memes (@Qid_Memez) November 11, 2024
? Swiggy makes a strong debut, listing at 420 INR vs IPO price of 390 INR!
¡ª Nigel D'Souza (@Nigel__DSouza) November 13, 2024
? A solid start for one of India¡¯s biggest food delivery platforms!
pic.twitter.com/vme22iM87K
Swiggy lists at 420 against the Issue Price of 390/- Up by 7.69%
¡ª G K AGARWAL (@ipo_agarwal) November 13, 2024
Acme Solar lists at 251 v/s Issue Price of 289/-, Down by 13.15%
KAHI KHUSHI KAHI GAM, SWIGGY NE DIKHAYA DUM?
Swiggy settled at 30 rs premium in nse.
¡ª Aadesh jain - IPOs and more (@adeshjainj) November 13, 2024
Congratulations to all risk takers ??
Im holding all my allotments will start selling soon depending on price action.
Will hold some qty for long term. ??
Did you buy/sell/holding? pic.twitter.com/QDXkGMPwMb
Dekho vo milgya, mujhe mera pehla IPO milgya ? #SwiggyIPO #Swiggy https://t.co/XoZdH2U1Ne pic.twitter.com/FBGF2CRdRX
¡ª Komal (@TheLaughLoom) November 13, 2024
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¨C1.5 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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