Swiggy shares list at 6-8% premium, joins Rs 1 lakh crore M-cap club

Swiggy Ltd shares made a bullish debut on Wednesday, listing at a premium of 5.64 per cent on the BSE and 7.7 per cent on the NSE over the initial public offering (IPO) offer price of Rs 390 per share and valuing the company at Rs 1.02 lakh crore.

The market value of the company’s MD and CEO Sriharsha Majety, who owns 5.36 per cent stake in the company, was at Rs 5,457 crore. Co-founder Lakshmi Nandan Reddy Obul’s stake is worth Rs 1,782 crore. Moreover, nearly 500 employees who got stocks under the ESOP schemes are worth over Rs one crore.