The post struck a chord with many, garnering over 500 reposts and 7,000 likes on X within an hour, as it celebrated the spirit of mutual respect between industry players.

Swiggy and Zomato, known for their playful social media banter, have often sparked a buzz with exchanges like one rainy season when Zomato tweeted, “This weather calls for pakoras and a cosy corner. We’ve got the former covered,” to which Swiggy replied, “Don’t forget the chai to go with those pakoras! We deliver happiness, rain or shine.”

These light-hearted “spats” have set a trend across industries, with rivals in other sectors now imitating this clever marketing strategy.

How does Swiggy's opening-day performance stack up against Zomato’s?

Swiggy made a strong market debut on Wednesday, listing at ₹420 on the NSE, a 7.7% premium over its IPO price of ₹390 per share, and at ₹412 on the BSE, up 5.6%. The Bengaluru-based food-tech company raised ₹11,327 crore through its IPO, including a fresh issue of ₹4,499 crore and an offer-for-sale of 175 million shares, priced in a fixed range of ₹371-390 per share with a lot size of 38 shares.

Despite initial flat trading in the grey market, Swiggy’s listing outperformed market expectations, as its grey market premium (GMP) had recently dropped to zero from ₹9.50 on the IPO's opening day.

In comparison, Zomato's IPO outperformed Swiggy's on its listing day, despite being a smaller issue. Zomato debuted on July 23, 2021, with one of India's largest listings, raising ₹9,375 crore (around $1.3 billion). Priced between ₹72 and ₹76 per share, the IPO saw massive demand, with the IPO being oversubscribed nearly 38 times. On its listing day, Zomato’s stock opened at ₹115 on the BSE, a 51.3% premium over the issue price, valuing the company at over $12 billion. This strong debut set a high bar compared to Swiggy's performance.

Today, Zomato’s stock opened at ₹258.08 on the NSE, and reached a low of ₹254.53 in morning trade, a 2.4% drop from yesterday’s close of ₹260.99, following recent downgrades from multiple brokerage firms.

Zomato and Swiggy lead India’s food delivery market, holding approximately a little less than 60% and over 40% of market share, respectively.

zomato vs swiggy

"It’s giving Jai-Veeru": Swiggy on Zomato shout-out