Swiggy Share Price Nears All-Time High After Strong IPO and Growth Surge

Swiggy share price stock rose by over 3%, reaching a high of ₹567.90. The stock is now 38% above its IPO price of ₹412 and is nearing its all-time high of ₹576.95, which was recorded on December 5, 2024. The current price is up by over 45% from its 52-week low of ₹390.70.

Swiggy’s Strong IPO Debut 

Swiggy’s ₹11,327.43 crore IPO was highly successful, drawing interest from both institutional and retail investors. The IPO, priced between ₹90 and ₹95 per share, was oversubscribed and listed on November 13 with a 7.7% premium at ₹420.

Swiggy’s Financial Performance

In its Q2 FY25 results for FY24, Swiggy reported a net loss of ₹625.5 crore, an improvement from ₹657 crore in the same period last year. However, revenue grew by 30% year-on-year to ₹3,601 crore. The company aims to break even by Q3 FY26 and expects to reach adjusted EBITDA break-even by Q2 FY25.

Swiggy continues to show strong growth potential in the food delivery and quick commerce sectors, bolstered by positive analyst outlooks.

Stock Performance 

Swiggy share price is currently trading at ₹552.70, up by ₹15.85 or 2.95% as of 11:14 AM on December 10, 2024. The stock opened at ₹560.00, reached a high of ₹567.90, and a low of ₹550.70. Its market capitalisation stands at ₹1.24 lakh crore. The 52-week high for Swiggy is ₹576.70, while the 52-week low is ₹391.00.

Over the past 5 days, Swiggy’s stock has risen by ₹35.75, or 6.92%. In the past month, the stock has gained ₹96.70, reflecting a 21.21% increase.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.