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Swiggy's shares jump in trading debut after $1.4 billion IPO

Economic Times

Economic Times · 9m ago

Swiggy's shares jump in trading debut after $1.4 billion IPO

Shares of Indian food and grocery delivery company Swiggy saw a 7.7% increase in pre-open trade after its $1.4 billion initial public offering was oversubscribed by more than three times. The stock debuted at 420 rupees ($4.98) on India's National Stock Exchange, higher than its issue price of 390 rupees.

Related News

How have major startup IPOs of 2024 performed since market debut?

Inshorts · 7m ago

How have major startup IPOs of 2024 performed since market debut?

Swiggy's ₹11,327-crore IPO, which was India's second-largest IPO this year, delivered roughly 50% returns since market debut in November, data compiled by YourStory showed. Shares of Ola Electric and FirstCry are up 25% and 30%, respectively, from their issue prices. Go Digit, Awfis, Ixigo and Zinka Logistics shares have jumped 22%, 89%, 70% and 82%, respectively, since market debut.

Swiggy listing rings in robust gains for investors, employees

Economic Times

Economic Times · 9m ago

Swiggy listing rings in robust gains for investors, employees

Swiggy's successful $1.3 billion IPO and stock market debut has resulted in significant gains for investors. The company's shares listed at a premium on the stock exchanges, leading to increased total stake value. Prosus, the biggest investor, has tripled its initial investment and now holds shares worth Rs 26,507 crore. SoftBank's investment is now valued at almost $1 billion. Accel, another early backer, has seen an investment multiple of 35 times. Swiggy's CEO and co-founders have also gained substantial value from the listing. The company's market capitalization stood at Rs 1,02,062 crore by the end of the day.

Chime IPO raises $864 million in long-awaited Nasdaq debut, cuts valuation nearly in half—here’s what it means for fintech’s big revival

Economic Times

Economic Times · 1m ago

Chime IPO raises $864 million in long-awaited Nasdaq debut, cuts valuation nearly in half—here’s what it means for fintech’s big revival

Chime's IPO on Nasdaq raised $864 million, debuting shares at $27 each, slightly above the expected range. The digital banking service, now trading under CHYM, saw shares jump to around $42, valuing the company at $11.6 billion, significantly lower than its $25 billion valuation in 2021. Despite decreased valuation, Chime's banking services and strong financial backers attracted investor interest, marking a potential revival for fintech IPOs and signalling strong investor interest.

₹11,000 cr wiped off Ola Electric's m-cap days after stock doubled investor wealth

Inshorts · 11m ago

₹11,000 cr wiped off Ola Electric's m-cap days after stock doubled investor wealth

Around ₹11,000 crore was erased from the market value of Ola Electric after its stock declined by 22% in the last five trading sessions. The stock has been on a downtrend since it doubled investors' wealth after hitting a record high of ₹157.53 on August 20. The company made market debut after issuing shares at ₹76 apiece through its IPO.

Swiggy shares fall nearly 6% as traders book profits on Day 2 after listing

Economic Times

Economic Times · 8m ago

Swiggy shares fall nearly 6% as traders book profits on Day 2 after listing

Shares of Swiggy, the leading food delivery player, declined by 5.6% to Rs 430.30 on BSE after an initial rise of over 7% on Thursday. The company's debut on Wednesday saw its shares end the day at a 17% premium compared to the issue price of Rs 390. While investor enthusiasm may be tempered by ongoing losses and challenging market conditions, Swiggy's brand recognition, extensive network, and strong position in the food delivery market support optimism for its future growth potential. Swiggy's market capitalization crossed Rs 1 lakh crore mark on its debut day.

UAE's Alef Education seeks to raise up to $515 mn in IPO

VCCircle

VCCircle · 1y ago

UAE's Alef Education seeks to raise up to $515 mn in IPO

Education technology provider Alef Education is looking to raise up to $515 million in its IPO on the Abu Dhabi bourse. The company plans to offer 1.4 billion shares representing 20% of its share capital at an indicative price range of AED 1.30-1.35 per share. Established in 2016, Alef offers AI-driven and personalised learning programmes, serving over 1.1 million registered students, 50,000 teachers, and 7,000 schools. The IPO is scheduled to commence trading on 12 June.

Indian hotel operator Samhi Hotels' IPO oversubscribed five times

Reuters · 1y ago

Indian hotel operator Samhi Hotels' IPO oversubscribed five times

Indian hotel operator, Samhi Hotels, has seen its initial public offering (IPO) oversubscribed by over five times, with bids worth $504 million, according to exchange data. The company, which operates Marriott, Hyatt, and IHG hotels in India, received bids for 333 million shares, significantly exceeding the 62.5 million shares on offer. The IPO, valued at INR 13.7 billion ($182 million), comprises a fresh issue of shares and an offer-for-sale from existing investors. The proceeds will be used to repay debt. Samhi Hotels is expected to make its trading debut next week.

Swiggy IPO: Foodtech Major Gets Shareholders’ Nod To Up Fresh Issue Size To INR 5,000 Cr

Inc42 · 10m ago

Swiggy IPO: Foodtech Major Gets Shareholders’ Nod To Up Fresh Issue Size To INR 5,000 Cr

- Shareholders approved an increase in the fresh issue size of Swiggy from INR 3,750 Cr to INR 5,000 Cr. - Swiggy aims to raise $1.4 Bn through its IPO, up from the initial plan of $1.25 Bn. - The projected valuation for Swiggy's IPO is approximately $15 Bn. - The IPO will involve an offer for sale component of 18.53 Cr shares in addition to the fresh issue. - The approval from shareholders paves the way for Swiggy to secure more funds and strengthen its position in the foodtech industry.

Swiggy cuts IPO valuation again, BlackRock and CPPIB to invest

VCCircle

VCCircle · 9m ago

Swiggy cuts IPO valuation again, BlackRock and CPPIB to invest

Indian food delivery giant, Swiggy, has reduced its IPO valuation to $11.3 billion, 25% lower than its initial target of $15 billion, amid market volatility and concerns following Hyundai India's lackluster debut. BlackRock and Canada Pension Plan Investment Board (CPPIB) are among the investors set to invest in the $1.4 billion IPO. Swiggy aims to avoid a tepid response and is consulting with investors to mitigate risks associated with the global uncertainty surrounding the US presidential election.

Arm prepares to meet investors ahead of blockbuster IPO

Economic Times

Economic Times · 1y ago

Arm prepares to meet investors ahead of blockbuster IPO

Arm Holdings is set to launch its investor roadshow for its highly anticipated initial public offering (IPO) after Labor Day, with plans to set a price range for the offering next week. The IPO is expected in September, with shares trading on September 14. SoftBank, Arm's owner, aims to sell about 10% of Arm's shares in the IPO, valuing the company at $60 billion to $70 billion. Several major tech companies, including Apple, Amazon, Intel, Nvidia, Alphabet, Microsoft, Samsung, and TSMC, have held talks about participating in the IPO.

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