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 2.5 lakh crore).
The differences were stark, Zomato was profitable for the previous 6 quarters, Swiggy was posting losses in excess of 500 crore every quarter. Zomato had taken a significant lead in the quick commerce segment, which Blinkit holding more than 40% market share (Instamart was third behind Zepto).
It’ll be interesting to see which company does well in the years to come. All eyes will be on the quick commerce segment which is expected to not only take away business from local “kirana” shops, but also disrupt bigger players like Amazon, Flipkart, Reliance Smart and even the mighty Dmart.
Swiggy IPO
| IPO Date | November 6 to 8, 2024 |
| IPO Share Price | ₹ 390 per share |
| Lot Size | 38 Shares |
| 1 Lot Price | ₹ 14,820 |
| Listing Date | November 13, 2024 |
| Listing Price | ₹ 456 |
| Listing Gain | 16.92% |
| 1 Lot Listing Gain | ₹ 2508 |
| IPO Market Cap | ₹ 87,301 crore |
| Listing Day Market Cap | ₹ 1,02,072 crore |
| Listing Day PE | (Loss making company) |
Soon after the listing and initial volatility, the Swiggy share price zoomed to an all-time high of ₹ 617.30 on 23 December 2024. Since then, with the Indian market weakening, Swiggy shares have fallen more than 30% from the highs.
Zomato shares have fallen too, with the valuations of both companies remaining very high. But like they say, “internet businesses are valued differently”.
It is all about acquiring customers, and gaining market share, the profits – like it was in Zomato’s case – will eventually come.
Will such businesses stand the test of time and reward long-term investors? Is there any value left in these already highly-valued companies? Only time can answer these questions.
Swiggy Share Price History
| Year | Share Price | Gain / Loss |
|---|---|---|
| IPO | ₹ 390.00 | |
| Listing | ₹ 456.00 | + 16.9% |
| 2024 | ₹ 540.90 | + 18.6% |
| 2025 | ₹ 378.55 | - 30.0% |
Swiggy Share Price Chart
Click here for high resolution Swiggy Share Price chart
Swiggy Returns Calculator
Enter any amount in the 'Investment amount' field and select a year.
The Swiggy calculator will tell you the value of your Swiggy investment in 2025.
Invested Amount
Investment Year
- During 2024, the share price of Swiggy was ₹ 390.
- If you had bought shares worth ₹ 2500 in 2024, you would have 64 shares today.
- At the end of 2025, the current value of your shares would be ₹ 24266.
Swiggy Returns Comparison
Invested Amount
Investment Year
Other Investment
Interest Rate