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News on Medial
'It takes a village': Swiggy debuts at 8% premium over IPO price
Economic Times
·
8m ago
Medial
Food and grocery delivery company Swiggy debuted on the stock market with a 7.69% premium over its IPO price of Rs 390 on NSE, listing at Rs 420. The IPO saw 3.6 times oversubscription, primarily driven by institutional investors. Retail investors subscribed to their portion 1.14 times, while non-institutional investors bid for only 41% of the shares reserved for them. Swiggy had set the price band for its IPO at Rs 371-390 per share.
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Swiggy Shares Make Debut On Bourses; List At 8% Premium
Inc42
·
8m ago
Medial
Swiggy, the food delivery giant, made its stock market debut today with shares listing at INR 420 on the NSE, a premium of 8% from its IPO issue price of INR 390 per share. The company's INR 11,324 Cr IPO was oversubscribed 3.59 times on the final day of bidding. The public listing is expected to benefit around 500 employees, who will become 'crorepatis' (millionaires).
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Swiggy Sets IPO Price Band At INR 371-390
Inc42
·
9m ago
Medial
Swiggy has set the price range for its upcoming IPO at INR 371-390, with a valuation of $11.3 billion at the upper end. The IPO is expected to be open for public bidding from November 6-8.
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Swiggy's grey market premium shrinks to 4.6% ahead of IPO
Inshorts
·
9m ago
Medial
Swiggy's unlisted shares were trading at a premium of 4.6% over the upper range of the issue price (₹371-₹390) in the grey market on Saturday, ET Now reported. This was reportedly down from a 6.4% premium two days ago. Food delivery platform Swiggy will launch its IPO on November 6 to raise around ₹11,300 crore.
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Swiggy delivers best major listing in 10 years
Economic Times
·
8m ago
Medial
India's food and grocery delivery firm, Swiggy, made a strong stock market debut, listing at a 5.6% premium to its IPO price of Rs 390. The stock closed 17% above its issue price at Rs 455.95. Swiggy's market capitalization reached Rs 1.02 lakh crore at the close of trading. Despite this positive start, brokerage Macquarie initiated coverage on the stock with an 'underperform' rating. Swiggy reported an operating revenue of Rs 3,222 crore in Q1 of FY25, up 34% from the same period last year, but it also widened its net loss.
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Swiggy IPO: Accel, Elevation Capital see over 3300% gain, Prosus likely to get Rs 4,254 Cr
YourStory
·
9m ago
Medial
Indian food delivery platform Swiggy has set the price range of its initial public offering (IPO) at ₹371-390 ($4.98-$5.24). The IPO will be open for bidding from 6 to 8 November, and early investors including Accel and Elevation Capital are set to make significant gains. Accel will see a return of 3,391% on its investment, while Elevation Capital will gain 3,309%, based on the upper end of the IPO price. Swiggy plans to raise ₹44.99bn ($600m) in fresh capital through the issuance of new shares.
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Virat Kohli-backed Go Digit debuts at 5% premium over IPO price
Economic Times
·
1y ago
Medial
Go Digit, a leading digital insurer, debuted on the NSE at a 5.15% premium. The shares opened at Rs 286 compared to the issue price of Rs 272. The company's IPO was oversubscribed nearly 10 times due to strong interest from retail and institutional buyers. The net proceeds from the IPO will be used to enhance the company's capital base and solvency levels. Go Digit has seen significant growth, with a rise in net earned premiums and a profit after tax in the 9-month period ending December 2023 compared to the previous financial year.
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MobiKwik makes strong debut on bourses; lists at Rs 440 on NSE, at 57% premium over issue price
YourStory
·
7m ago
Medial
MobiKwik, the digital banking platform, saw its shares listed on the National Stock Exchange (NSE) at Rs 440, a premium of 57.71% over its IPO price of Rs 279. On the Bombay Stock Exchange (BSE), the shares debuted at Rs 442.25, a premium of 58.51%. MobiKwik's IPO was subscribed 119.38 times, making it the second-most subscribed new-age tech IPO in India. Retail individual investors oversubscribed their portion by 134.67 times, while qualified institutional buyers and non-institutional investors oversubscribed by 119.5 times and 108.95 times respectively. Unicommerce's IPO holds the highest subscription record at 168.39x.
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Ajax Engineering IPO shares make muted market debut
Business Today
·
5m ago
Medial
Ajax Engineering's IPO shares debuted at an 8% discount, listing at Rs 576 on NSE against an issue price of Rs 629. Despite a grey market premium of Rs 10 per share, the IPO raised Rs 1,269.35 crore with an overall subscription of 6.45 times. Ajax Engineering, a Bengaluru-based firm established in 1992, manufactures concrete equipment. Lead managers included JM Financial and others, with Link Intime India as the registrar.
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Swiggy Files RHP, Increases Fresh Issue Size To INR 4,499 Cr
Inc42
·
9m ago
Medial
Swiggy, the decacorn, plans to open its long-awaited public issue for subscription from November 6 to November 8. The company has reduced the size of its Offer for Sale (OFS) component to 17.5 crore equity shares compared to its previous filing in September. Although the IPO price band has not been revealed, reports suggest that Swiggy will set it between INR 371 and INR 390.
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Swiggy To Command Lower Valuation Than Zomato In Public Market: Elara Capital
Inc42
·
10m ago
Medial
Swiggy, the upcoming IPO-bound food delivery platform, will face challenges to match Zomato's valuation unless it gains market share and achieves profitability, according to Elara Capital. Swiggy will need to reach Zomato's EBITDA margin in food delivery and break-even in quick commerce, which may be a long-term goal. Zomato was valued at $12 billion during its IPO, while Swiggy aims for a $15 billion valuation, marking a 40% premium to its previous valuation of $10.7 billion.
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