Swiggy stock closes 10% higher on bourses

On the BSE, shares of Sriharsha Majety-led company saw a 10.67% increase from its opening price.   Shares opened at Rs 420 apiece on NSE on Wednesday, a near 8% premium on the upper band of the company's IPO of Rs 390 apiece. Swiggy aims to raise approximately Rs 11,700 crore to invest in its subsidiary Scootsy, reduce company debt, and expand its dark store network.

The funds will also be used to enhance technology capabilities and strengthen brand-building initiatives. 

Credit :yourstory.com