Swiggy Share Price: Swiggy shares rally over 9% ahead of first Q2 results after listing

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Newly listed Swiggy shares climbed as much as 9.4% on Tuesday to Rs 542.10 on the BSE. The food delivery giant, which has seen an impressive 27% increase over its IPO issue price of Rs 390, will be releasing its financial results for the second quarter ended September today.

The food and quick delivery company debuted on the Dalal Street on November 13, with the company’s shares listing on the NSE at Rs 420, reflecting a 7.7% increase from the IPO issue price, while on the BSE, the stock debuted at Rs 412, showing a 5.6% premium over the issue price.

Swiggy’s Rs 11,327 crore public offering was subscribed 3.59 times. The retail investors category subscribed 1.14 times, while the portion reserved for employees saw 1.65 times bidding.

The IPO comprised a fresh issue worth Rs 4,499 crore and an offer-or-sale component of Rs 6,828 crore. The share sale was conducted within a price band of Rs 371-390 per share.

The company has incurred net losses in each year since incorporation and have negative cash flows from operations.


For the financial year ended March 2024, the loss stood at Rs 2,350 crore versus Rs 4,179 crore in FY23 and Rs 3,628 crore in FY22. Revenue from operations in the said period, however, doubled to Rs 11,247 crore in FY24 from Rs 5,704 crore in FY22.

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Swiggy will be reporting financial results for Q2 FY25 on Tuesday. In Q1, the company posted total income of Rs 3,310.11 crore, compared to Rs 2,509.65 crore in the year-ago period. Loss during the quarter stood at Rs 611.01 crore, compared to a loss of Rs 564.08 crore million in the previous corresponding quarter.Also read | Adani Ports shares can rally up to Rs 1,960, says Nuvama after visiting Vizhinjam port

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

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