Zomato gave interesting reaction after Swiggy’s listing in the stock market
New Delhi| Zomato has welcomed Swiggy after her listing in the stock market. Zomato wrote on X with a red heart emoji, “You and me… In this beautiful world (“You and I… In this beautiful world).” The company also shared a meme with it. It shows two delivery agents, one wearing a Zomato uniform and the other in a Swiggy uniform, two looking at the Bombay Stock Exchange, with “Now Listed: Swiggy” written on the building’s LED display. Zomato CEO Deepinder Goyal also congratulated Swiggy on its successful listing.
Commenting on the post, Swiggy responded with his official X handle and wrote, “it’s giving Jay and Veeru vibes.” X users were pleased with the meme and posted different comments to show their reactions. One person posted, “Hahaha… Brotherhood. Why don’t you merge the two companies? This would be a great merger with pricing power. Then no one will be able to enter this area.”
“I liked this brotherhood”, wrote another The third also responded, writing, “Wow, peace for today!” “This is a great gesture, which shows how competition should be viewed”, the fourth wrote. Thanks Congratulations to Zomato and Swiggy for their 7% return on their IPO listing.
According to stock market data, Swiggy’s share price opened on NSE at ₹ 420 per share, 7.69% higher than the issue price of ₹390. share price on BSE opened at ₹412 per share. The company’s IPO allocation was completed on 11 November. Those who were allocated shares received shares in their demat accounts on 12 November.
There is talk that more than 500 current and former employees of the company joined the list of ‘millionaires’ after Swiggy’s listing on the stock market on Wednesday. According to market sources Swiggy has allocated shares worth Rs 9,000 crore under the Employee Share Ownership Scheme (Aesop) to 5,000 employees at the higher price limit of Rs 390 per share of the issue. Employees are likely to benefit from the company being listed in the market and the share price increasing. The company had kept the price range for the IPO (initial public issue) at Rs 371 to Rs 390 per share.
