Advertisment
Topical Spot

Zomato sends warm wishes for Swiggy’s stock market listing

Swiggy's stock market debut saw a fully subscribed IPO, drawing interest from investors and reactions from the public, brands, and even rival Zomato.

author-image
Joe Sinha
New Update
Swiggy IPO

Swiggy made its stock market debut with shares priced between Rs 327 and Rs 390. The company’s Rs 11,327 crore IPO was fully subscribed by the final day, receiving 3.59 times the expected demand thanks to interest from Qualified Institutional Buyers and non-institutional investors. 

Swiggy publicly announced the IPO in a print edition of The Economic Times, on the 8th of November 2024.

s

Swiggy marked its IPO launch with a playful video titled Ghanti bajate bajate, kahan tak pahunch gae! Swiggy IPO delivered. The video humorously highlights the journey of ringing the bell for success over the years, showing how far it has come, culminating in the milestone of going public. A short, yet impactful celebration of their growth and achievements.

 

Meanwhile, In a rare moment of camaraderie, Zomato, Swiggy’s long-time competitor, extended a public gesture of goodwill. In a post on X (formerly Twitter), Zomato congratulated Swiggy with the message, “You and I... In this beautiful world,” along with an image of their delivery personnel standing together outside the Bombay Stock Exchange (BSE) building, which displayed a “Now Listed Swiggy” banner.

Zomato CEO Deepinder Goyal also extended congratulations to Swiggy on the launch of its IPO, despite the alleged fallout between the two companies. Swiggy reportedly 'kicked out' Goyal from his role as a judge on Shark Tank after they became the show's sponsor, a position Goyal held for one season. This unexpected gesture of goodwill from Zomato comes amid their ongoing rivalry in the competitive food delivery market.

 

The art is inspired by the picture which Zomato posted during their IPO originally, and Swiggy promptly replied to Zomato's congratulatory post in their own style.

 

How other brands reacted

On the occasion of Swiggy's IPO, one of its earliest investors, Accel, looked back on their partnership that began in 2015, recognising the company's evolution with a new brand film, the messaging has shifted from 'Celebrating with Swiggy' to 'Celebrating Swiggy,' marking a new chapter in the company's journey. The film showcased stories of how Swiggy has been present in milestone moments, from family celebrations to everyday joys.

This is how some other brands reacted to the IPO:

 

 

Swiggy’s IPO marks a major milestone in its journey, reflecting not just the company’s growth in the competitive food delivery sector but also the evolving dynamics of marketing and advertising within the industry, and the ongoing rivalry with Zomato remains a defining force. Despite fierce competition, there’s an undeniable sense of camaraderie and mutual respect between the two, exemplified by Zomato’s public congratulations.

joeOver the years, both companies have shaped each other’s strategies, driving innovation and pushing boundaries in a market where marketing creativity and consumer engagement are key. As Swiggy steps into the stock exchange spotlight, it’s clear that this rivalry is far from over, but there’s also a shared recognition of how far both brands have come, together and apart, in redefining the food delivery experience. All eyes will be on how this new chapter unfolds, not only for the companies but also for the marketing and advertising landscape they continue to shape.

Zomato swiggy food delivery nse listed companies Swiggy IPO