Swiggy, India’s leading on-demand delivery platform, recently made headlines with its highly anticipated Initial Public Offering (IPO) debut. The IPO, valued at

The drop comes after a decent debut, closing at Rs 455.95 the previous day, marking a 10.67% rise from its initial listing price.

Swiggy Share Price, IPO Listing, Swiggy IPO Subscription Status Highlights: The company raised Rs 945.40 crore from anchor investors by selling 315.13 million shares.

Swiggy stock is all set for market debut today. The IPO was oversubscribed by 3.59 times. The ₹11,300-crore IPO comprised fresh capital raise of ₹4,499 crore and an offer for sale (OFS) of 17.51 shares worth ₹6,

Following its debut, Swiggy has also received its first brokerage coverage with a BUY rating. Broker JM Financial likes Swiggy stock and has set a Rs 470 target.

Swiggy shares fell nearly 6% on Thursday, erasing Rs 5,842.35 crore from its market valuation. The company's IPO had a price range of Rs 371-390 apiece.

Swiggy shares made a decent debut on the stock exchanges, beating grey market estimates as they began trading on the NSE with a 7.69% premium above their IPO price of Rs 390, opening at Rs 420. On the BSE, the stock debuted at Rs 412, marking a 5.64% premium.

Swiggy operates in India's rapidly growing online food delivery and quick commerce sectors, which have seen significant expansion.

The issue, which opened on November 6, was subscribed 3.6 times the shares on offer driven by institutional investors on the third and final day.