Swiggy's listing: investors cheer, analysts divided

Prosus and controlling shareholder Naspers invested $1.3 billion for a 31% stake in Swiggy

- Mansi Verma & Priyamvada C

Food-delivery firm Swiggy's shares hit the bourses at ₹420 on Wednesday, a 7.7% premium to the issue price of ₹390, making the listing a major liquidity event for its top investors.

"It is a momentous event. We have raised a huge amount of capital in the middle of a tough market, which is a great feat," Sumer Juneja, managing director for EMEA & India at SoftBank Investment Advisors, told Mint.

Swiggy had raised $3.2 billion in private capital in total from marquee investors like Softbank, Prosus, Accel, Norwest Venture Partners and Elevation Capital, which have all reaped multifold gains on their investments.