On the day of Swiggy’s IPO launch, Zomato extended a humorous olive branch, sharing a meme referencing the iconic Bollywood friendship of “Jai and Veeru” from Sholay. This light-hearted post highlighted their playful rivalry and conveyed a sense of camaraderie despite their competition.
Swiggy’s IPO opened on November 6, 2024, aiming to raise over Rs 11,000 crore, with its price set between Rs 371-390 per share. The IPO stirred excitement but also raised questions among analysts and investors about Swiggy’s growth and profitability, as Zomato currently leads in market share and operational efficiency. Some analysts advised cautious optimism for Swiggy’s long-term growth in quick commerce, though they noted its ongoing losses might deter conservative investors.
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