Swiggy’s IPO is making steady progress with a 25% subscription rate recorded by the second day of its public offering. As one of India’s major food delivery platforms, the company is generating significant market interest, particularly among retail investors, though subscription numbers suggest relatively cautious enthusiasm compared to some other high-profile IPOs. Analysts have noted that Swiggy’s gray market premium (GMP) suggests a mild listing pop, which indicates moderate investor expectations for short-term gains.
Swiggy’s IPO arrives amid an increase in IPO activity in India’s digital and e-commerce sectors. While Swiggy’s revenues and growth in user base showcase its strong market presence, profitability remains a topic of investor concern. The company’s high operational costs, mainly due to delivery expenses and customer acquisition, have been challenging in its journey toward sustained profitability. Given these factors, Swiggy’s listing is being closely watched as a potential bellwether for upcoming tech IPOs in India.
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