Swiggy Share Price
Swiggy was one of the most hyped IPOs of 2024. It listed when the share price of Zomato, its only competitor in the duopoly ‘food delivery’ business, had gone up more than 125% in the previous 12 months (Nov 2023 – Nov 2024). Swiggy was competing in the same ‘hyper growth’ sectors; one, the well-established food delivery business and second, the highly competitive ‘quick commerce’ segment which had three major players – Blinkit (Zomato), Zepto and Instamart (Swiggy). The IPO valued Swiggy at around 87,300 crore market cap, which was at around 35% of Zomato’s market capitalisation at the time (more than […]