Swiggy Listing Date

Swiggy's IPO: Will It Fly High or Just Plateaus?

Swiggy's IPO is just around the corner, but what's cooking in the grey market? Will it soar or sink?

The Swiggy IPO allotment status is finally out, and it's causing quite a stir in the stock market! Food delivery giant Swiggy will make its debut on the stock exchange on Wednesday, but the outlook isn’t looking too appetizing. Despite a respectable initial response, the grey market whispers indicate a rather tepid listing for its shares, leaving market enthusiasts on the edge of their seats. The company opened for subscription with a price band of Rs 371 to Rs 390, looking to raise an impressive Rs 11,327 crore through its Initial Public Offering (IPO).

However, the excitement is tempered with reality as Swiggy's IPO has garnered a lukewarm response, with overall subscriptions just surpassing three times, predominantly driven by institutional investors. On the last day of subscriptions, just like a late-night food order, it was a slow burn. Many investors are now holding their breath, waiting to see how Swiggy shares fare on their big day, especially as the grey market keeps whispering about a potential discount right out of the gate!

Market experts are buzzing about the GMP (Grey Market Premium), which is currently at a measly 0.26%. This suggests that Swiggy's shares could be trading at a near plateau level or even lower when they are finally listed. It’s puzzling to think that the unlisted shares hover just a rupee above the IPO price, raising eyebrows across the trading floor. In fact, Swiggy’s unlisted shares have been shuffling around at Rs 391 in the grey market over the past few days, indicating investors are approaching this with cautious optimism.

As the clock ticks down to its listing, everyone will be keenly watching Swiggy's stock price for any signs of life or lethargy. Just like missing the delivery guy when he’s just outside, no one wants to miss out on potential gains. An interesting tidbit to consider is how the success or failure of this IPO could impact other food-tech companies looking to hit the market soon. And remember, while Swiggy might be delivering food to your door, it's the stock market that’s serving up the financial futures of many investors!