Swiggy shares surge 17% on market debut

NEW DELHI: SoftBank-backed Swiggy, which made its trading debut on Wednesday, saw its shares closing 16.91% higher at Rs 455.95 on the BSE. This signals investor confidence and growth in food and grocery delivery space. Its IPO price was Rs 390, and shares opened at Rs 420 on Wednesday.

Shares closed at Rs 456 on the NSE, registering a market capitalisation of over Rs 1.03 lakh crore. Earlier, to mark this moment, some of Swiggy’s delivery partners joined its leadership team — Sriharsha Majety, Nandan Reddy, Rohit Kapoor, and others— on stage to ring the ceremonial bell.