<p>New Delhi: Shares of newly-listed food delivery and quick commerce major Swiggy declined nearly 6 per cent on day two of trading on Thursday.</p>.<p>The stock tumbled 5.72 per cent to Rs 429.85 apiece on the BSE. During the day, it lost 8.18 per cent to Rs 418.65.</p>.<p>On the NSE, shares of the firm ended at Rs 430.70, down 5.54 per cent.</p>.Swiggy shares surge nearly 17% in market debut.<p>The company's market valuation eroded by Rs 5,842.35 crore to Rs 96,219.66 crore.</p>.<p>On Wednesday, shares of Swiggy ended with a premium of nearly 17 per cent against the issue price of Rs 390.</p>.<p>Swiggy's market cap had crossed Rs 1 lakh crore on the day of the listing of shares on the stock exchanges.</p>.<p>The Rs 11,327-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.</p>.<p>The initial share sale had a price range of Rs 371-390 apiece.</p>.<p>The company's IPO (Initial Public Offering) had a fresh issue of shares worth Rs 4,499 crore, along with an Offer-For-Sale (OFS) of Rs 6,828 crore.</p>.<p>Going by the draft papers, the company plans to utilise proceeds from the fresh issue for investing in technology and cloud infrastructure; brand marketing and business promotion; and debt payment; and funds will also be allocated for inorganic growth and general corporate purposes. </p>
<p>New Delhi: Shares of newly-listed food delivery and quick commerce major Swiggy declined nearly 6 per cent on day two of trading on Thursday.</p>.<p>The stock tumbled 5.72 per cent to Rs 429.85 apiece on the BSE. During the day, it lost 8.18 per cent to Rs 418.65.</p>.<p>On the NSE, shares of the firm ended at Rs 430.70, down 5.54 per cent.</p>.Swiggy shares surge nearly 17% in market debut.<p>The company's market valuation eroded by Rs 5,842.35 crore to Rs 96,219.66 crore.</p>.<p>On Wednesday, shares of Swiggy ended with a premium of nearly 17 per cent against the issue price of Rs 390.</p>.<p>Swiggy's market cap had crossed Rs 1 lakh crore on the day of the listing of shares on the stock exchanges.</p>.<p>The Rs 11,327-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.</p>.<p>The initial share sale had a price range of Rs 371-390 apiece.</p>.<p>The company's IPO (Initial Public Offering) had a fresh issue of shares worth Rs 4,499 crore, along with an Offer-For-Sale (OFS) of Rs 6,828 crore.</p>.<p>Going by the draft papers, the company plans to utilise proceeds from the fresh issue for investing in technology and cloud infrastructure; brand marketing and business promotion; and debt payment; and funds will also be allocated for inorganic growth and general corporate purposes. </p>