Swiggy Scrip Slumps 6% On Day-2

New Delhi: Shares of newly-listed food delivery and quick commerce major Swiggy declined nearly 6 per cent on the second day of trading on Thursday. The stock tumbled 5.72 per cent to Rs429.85 apiece on the BSE. During the day, it lost 8.18 per cent to Rs418.65. On the NSE, shares of the firm ended at Rs430.70, down 5.54 per cent. The company’s market valuation eroded by Rs5,842.35 crore to Rs96,219.66 crore. On Wednesday, shares of Swiggy ended with a premium of nearly 17 per cent against the issue price of Rs390. Swiggy’s market cap had crossed Rs1 lakh crore on the day of the listing of shares on the stock exchanges. The Rs11,327-crore initial public offer of Swiggy got fully subscribed on the final day of the share sale on Friday, ending with 3.59 times subscription.