In a gesture to honor their delivery partners, Food delivery giant Swiggy invited two of its delivery partners, Jigar Khan and Namrata Vora, joined the company’s co-founders and management team on stage at the National Stock Exchange (NSE) to ring the ceremonial bell. .
This symbolic gesture by the newly listed company was aimed at appreciation for its delivery network and highlighting their role. “This moment celebrates the hard work and contributions of our delivery heroes, who remain at the heart of Swiggy’s success,” the company said in a statement.
Swiggy also marked its stock market entry with a promotional video. The advertisement showcased a delivery person taking the ‘IPO’ to homes, while showing the Swiggy-owned brands. The video concluded with the voiceover “Ghanti bajaate bajaate, kahan tak pahunch gae! Swiggy IPO “Delivered”.
Keep ringing the bell, where will you reach? Swiggy IPO Delivered.
Swiggy made a successful debut on the stock market on Wednesday, opening on a strong note with listing at Rs 420 on NSE, marking a 7.7% premium while it opened at Rs 412 on BSE.
The IPO, valued at Rs 11,327-crore, was over subscribed by 3.59 times on Friday with price band set between Rs 371-390 per share. The company’s public offering comprised a fresh issue worth Rs 4,499 crore and an Offer-For-Sale (OFS) component of Rs 6,828 crore.
According to the draft documents, the company intends to allocate the fresh issue proceeds towards enhancing technology and cloud infrastructure, conducting brand marketing activities, promoting business growth, settling debts, pursuing acquisition opportunities, and addressing general corporate requirements.
Founded in 2014, Swiggy has evolved into a comprehensive on-demand platform offering food delivery, groceries (Instamart), and a range of hyperlocal services, including restaurant reservations (Dineout), event bookings (SteppinOut), and product pickups and deliveries (Genie ).
The platform also features a loyalty program, Swiggy One, along with in-app payment options such as Swiggy Money, Swiggy UPI, and a Swiggy-HDFC Bank credit card for added rewards.
