Swiggy Share Price:  Shares of food and grocery delivery company Swiggy Limited soared over 9 per cent during trading hours on Tuesday to hit an intra-day high of Rs 541.95 on NSE, which is the company's 52-week high. Swiggy shares surged over 39 per cent against its IPO issue price. Today's rally is driven by optimism toward the second quarter result, which is scheduled for today. Investors are expecting positive results and hence they are monitoring the development of the shares.

At around 1:15 pm, the stock was trading at Rs 513.30, up 3.97 per cent. Swiggy shares opened in green at Rs 505 per share and went on to hit an intraday high at Rs 541.95 per share on NSE. Meanwhile, the 52-week highs and lows stood at Rs 541.95 and Rs 391 respectively. 

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Swiggy made its stock market debut on November 13. The company's shares were listed at Rs 420 with a 7 per cent premium, which was not a stellar debut. The company's IPO was open from November 6 to November 8 and the price band was set at Rs 371 to Rs 390 per share for the initial share sale. The size of the company's IPO is Rs 11,327.43 crore, which comprised both fresh issues and offers for sale. The company had offered a discount of Rs 25 per share to its employees.

The Swiggy IPO got 3.59 times the subscription during its 3-day opening, and the shares reserved for retail investors got 1.14 times the subscription. While the highest subscription came from Qualified Institutional Buyers.

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Disclaimer: This story is just a piece of news about the recent development in the stock. Jagran does not advice investing, please do take experts opinion before investing.