Zomato, one of India’s food delivery giants, just extended a warm congratulations to its competitor Swiggy on its successful stock market debut.
That’s right—Zomato celebrated Swiggy’s big day on social media platform X, formerly known as Twitter, sharing a photo of Swiggy’s listing on the Bombay Stock Exchange with a friendly caption: ‘You and I… In this beautiful world.’ How’s that for a friendly rivalry
Swiggy’s shares opened at ₹420 on the NSE, a 7.69% premium over its issue price of ₹390.
The IPO raised an impressive ₹11,327 crore, with ₹4,499 crore from fresh issue and the rest from Offer For Sale by shareholders.
This major milestone comes a few years after Zomato’s own 2021 debut, when it listed at ₹115, a massive 51% above its issue price of ₹76.
It’s rare to see rivals celebrating each other’s wins like this. So, what’s your take on this show of support? Is it genuine or just good PR?
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