Swiggy IPO: How investors justify risky pre-listing trading

Swiggy’s IPO, held from November 6-8, 2024, saw strong interest, with shares priced at ₹371-₹390 and a retail lot size of 38 shares. Before listing, Swiggy’s unlisted shares traded at a premium in the grey market, though this premium narrowed to just ₹1 above the issue price as the listing date approached, signaling a muted debut. The IPO raised ₹11,327 crore and was closely watched alongside other unlisted names like Zomato, NSE, and PharmEasy, reflecting ongoing investor interest in pre-IPO and grey market trading of high-profile tech and consumer companies