Swiggy's share price
You are lucky to have come here to know when the IPO came for Swiggy, one of the most popular unlisted shares in the grey market. On September 10, 2024, Swiggy reported increasing its IPO size to be one of the biggest in the public market recently. Also, Swiggy has scheduled an EGM or Extraordinary General Meeting on October 3, 2024, to finalise the changes in the IPO that could shake the Indian stock markets. With Sensex and Nifty already cutting all-time highs over 35 times this year, 2024, last week on September 12, it again reached new highs and is trading close to it. Also, Zomato, the significant competitor of Swiggy, is trading at its all-time highs. The time is ripe for listing it on the exchanges to give high returns to all its trusted investors.
So, check out all the details about the forthcoming Swiggy IPO, raising over 1.4 billion dollars to be one of the most extensive initial public offerings recently to get oversubscribed many times and list high above the issue price to get high returns for your investment of buying the unlisted Swiggy share now from the reputed broker.
Why has Swiggy raised its IPO size to be one of the biggest in recent years?
Deepavali came earlier for Swiggy share investors with the recent announcement of raising the IPO size to over 50 billion rupees by issuing only fresh shares to the public. More sweet news is to follow with EGM on October 3 for early celebrations for Swiggy investors as it could announce the IPO date. There are many reasons for Swiggy’s share price to raise the IPO size from an earlier estimate of 1.3 to 1.4 billion dollars. And for the public the good news is that the fresh shares issued will not be as earlier planned to raise Rs. 37.5 billion to now over Rs. 50 billion. Hence, the additional increase of over 150 million dollars from the IPO is due to many reasons, including the following, among others.
- Stock market conditions are favourable in India and abroad. Sensex and Nifty cut their all-time highs again on September 12, 2024, and are expected to rise further with Deepavali on October 31.
- From 2023 to 2024, Swiggy’s revenue increased from Rs. 8,265 to Rs. 11,247 crores, and profit after tax decreased from Rs. 4,179 to Rs. 2,350 for the same period.
- Swiggy’s 36% rise in operating revenue growth last year is due to its many stringent steps to reduce costs, increase profit with excellent management, and expand business across India.
Call Stockify, the reputed platform for buying and selling unlisted shares, to learn why Swiggy’s IPO has risen rapidly and to hit the market before Deepavali or the end of the year, when the EGM on October 3 may be announced.
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