Swiggy lists at 8% premium to IPO issue price

Swiggy, the food delivery giant, listed on the bourses on Wednesday with decent gains of up to 8 per cent on the bourses today. On the NSE, the food delivery major listed at Rs 420, up 7.69 per cent, while on the BSE it listed at Rs 412 per share, implying gains of over 5 per cent in comparison to the issue price.

The company’s IPO had garnered decent interest, getting oversubscribed by 3.59 times, buoyed by qualified institutional buyers and retail investors.

Singhvi advised retail investors to avoid entering at the listing price, suggesting to watch for potential dips before buying, especially for those with a high-risk appetite and a long-term horizon. He notes that while there could be some institutional buying if the stock lists at a steep discount, short-term investors should consider setting a stop-loss below the IPO price, tailored to their risk tolerance. 

Key Details:
- IPO Price: Rs 390 per share
- Listing Time: 10:00 AM IST on Wednesday, November 13
- Listing Group: Part of the 'B' Group of Securities on BSE and NSE
- IPO Allotment Date: November 11
- Demat Credit Date: November 12

Short-term investors are advised to maintain a suitable stop-loss below the IPO price, aligning with their risk appetite. Potential support from institutional funds could emerge if Swiggy lists at a significant discount. 

Investors should be prepared for a volatile session, as sentiment will largely hinge on Swiggy's ability to prove its growth narrative against profitability concerns.