Swiggy's shares jump 15% in Indian debut, value company at $11.9 billion

Quick Summary:

:Shares of Indian food and grocery delivery firm Swiggy jumped nearly 15 per cent in their trading debut on Wednesday, bucking weakness in the broader market and a better performance than some analysts had predicted for the loss-making firm after its $1.4 billion IPO.

The stock had listed at 420 rupees ($4.

Macquarie has set a target price of 325 rupees on the stock, nearly 17 per cent lower than Swiggy's IPO price.

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Category: EconomyBusiness

Markets: SingaporeIndia

Topics: National India Exchange Shares Director Listing 2024 Stock Managing Company Swiggy

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-13 @ 12:17:13 (5 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 666 words

Reading Time: 4 minutes read

Sentences: 22 lines

Sentence Length: 31 words per sentence (average)

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Copyright Owner: © Channel News Asia

News ID: 23566706

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