Swiggy IPO allotment status released: What GMP indicates ahead of listing date

Shares of food delivery giant Swiggy will be listed on the exchanges on Wednesday, November 13, after its high-profile IPO launch last week. The Swiggy Limited's logo is seen at a press conference during which its Initial Public Offering was announced in Mumbai, India, October 30, 2024 According to the report, its grey market premium is just ₹1, which is 0.26% over the issue price. "We believe the majority of the investors, especially non-institutional and retail, stayed back for a few reasons like Negative cash flow business model followed by concern on high competition and ongoing negative market mood," the report quoted Prashanth Tapse of Mehta Equities as saying. Swiggy has only incurred net losses every year since incorporation and has only had negative cash flows from operations, unlike its already-listed competitor, Zomato.