Swiggy GMP near zero as IPO gets fully subscribed, hinting at flat-to-negative listing

Swiggy's IPO saw a lukewarm response on its final day, with the grey market premium plummeting to near zero. The muted demand, particularly from retail investors, is attributed to concerns over the company's profitability and a lackluster market sentiment. While Swiggy aims to leverage the IPO proceeds for expansion and technology upgrades, analysts remain cautious about its path to profitability.