New Delhi — Shares of Swiggy Ltd. have fallen about 38% from the highs reached on the food delivery and quick-commerce company’s first day of trading in November 2024.
Swiggy priced its initial public offering at Rs 390 per share, the upper end of its IPO price band. The stock opened at Rs 412 on the BSE and Rs 420 on the NSE before climbing to intraday highs of Rs 465.30 and Rs 465.80, respectively, on its debut.
That initial momentum has since faded. Swiggy shares closed Tuesday at Rs 287.15, down 26.37% from the IPO price and about 38.28% from the stock’s listing-day peak.
The stock has remained volatile since its debut. It has traded as high as Rs 473 over the past 52 weeks and as low as Rs 235.85, nearly 50% below its listing-day peak.
Although the shares have recovered from their 52-week low, they remain well below both the IPO price and the levels reached during the company’s market debut.
The decline has come despite bullish forecasts from some brokerages. Macquarie previously set a price target of Rs 700, while ICICI Securities issued a target of Rs 740 in October 2025. The stock’s current price remains substantially below both targets.
Swiggy has also continued to report losses. The company posted a consolidated net loss of Rs 791 crore for the quarter ended June 30, corresponding to the first quarter of fiscal 2026-27. (Source: IANS)
