In a gesture of goodwill, Zomato CEO Deepinder Goyal congratulated rival Swiggy on its successful stock market debut on Wednesday, as its shares were listed at an 8% premium on the NSE.
“Congratulations @Swiggy! Couldn’t have asked for a better company to serve India with,” Goyal posted on X, sharing a message from Zomato that read, “you and I…In this beautiful World @Swiggy.”
Swiggy’s shares debuted at Rs 420, an 8% increase over the issue price on the NSE. The company’s Rs 11,327-Crore initial public offering (IPO) was fully subscribed on the final day of the sale, with a subscription rate of 3.59 times.
Celebrating its stock market debut, Swiggy launched an ad film highlighting the brand’s values and its decade-long journey to this milestone.
In a heartfelt tribute to the core of its operations, two of Swiggy’s delivery partners, Jigar Khan and Namrata Vora, were invited to join the company’s Co-Founders and management team on stage at the National Stock Exchange.
“Together, they rang the ceremonial bell, symbolizing the unified effort of Swiggy’s delivery network and recognizing their crucial role in the company’s success. This gesture emphasized Swiggy’s commitment to honoring the hard work and contributions of its delivery partners, who have been central to the brand’s transformation from a startup to a publicly listed company,”
Swiggy stated in a release.
Shashi Rai
