Swiggy, one of India’s leading food and grocery delivery platforms, has captured the market’s attention with its remarkable journey in the unlisted shares segment. As the company gears up for its much-anticipated IPO, expected to hit the market in November 2024, investor interest in Swiggy shares has surged dramatically. This surge has led to significant growth in the value of Swiggy’s unlisted shares, becoming a sought-after investment for those looking to get in on the action before the company’s public listing.
The Surge in Swiggy’s Unlisted Shares
Swiggy’s share price, trading at around ₹355 in July 2024, has experienced a remarkable 40% increase, now commanding a price of ₹490 in the unlisted market. This rise has been driven by impressive company performance, which saw operating revenue grow 36% to ₹11,247 crore and net losses reduced by 44% to ₹2,350 crore for the fiscal year 2024. The heightened demand for Swiggy shares reflects investor optimism about the company’s growth trajectory and the value it could bring once it goes public.
Celebrity Endorsements Fueling Interest
Swiggy’s unlisted shares have also drawn the attention of marquee investors, including celebrities like Rahul Dravid, Amitabh Bachchan, and Karan Johar, who have reportedly acquired stakes in the company. This celebrity interest has added another layer of appeal, making Swiggy shares a hot commodity in the pre-IPO phase. Over 200,000 pre-IPO shares have been actively traded, and this number is expected to rise as the IPO date approaches.
Swiggy’s IPO and Future Prospects
Swiggy’s IPO is expected to raise around ₹11,000 crore, with a fresh equity sale of ₹3,750 crore and an offer-for-sale (OFS) component of up to ₹6,664 crore. This IPO has secured approval from the Securities and Exchange Board of India (SEBI), making Swiggy’s public debut one of the most awaited events in the Indian stock market.
The current unlisted market presents a unique opportunity for investors to grab Swiggy shares at a lower price than they may fetch after the IPO. With competition heating up from other unlisted market favourites like the National Stock Exchange (NSE) and Chennai Super Kings (CSK), Swiggy’s performance continues to stand out.
Conclusion
Swiggy’s unlisted shares have become a hot topic in the investment community, driven by strong company growth, celebrity endorsements, and the buzz surrounding its upcoming IPO. Swiggy shares in the unlisted market are expected to see even more traction as the IPO draws closer, making it a compelling opportunity for investors looking to secure a slice of this high-growth company before its public listing.
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