Swiggy will give out a big payday to its hundreds of employees as it enters the stock market today and its shares will be listed on BSE and NSE at 10 am. According to the Moneycontrol report, around 500 employees are expected to pocket Rs 1 billion each, while around Rs 9,000 will be distributed among 5,000 employees; This means rewarding years of service and growth contributions.

The IPO, one of India’s largest IPOs in recent years, highlights Swiggy’s scale and marks an important moment for India’s startup ecosystem.

Despite strong demand from institutional investors, analysts are cautious about Swiggy’s launch. The gray market premium (GMP) reflects a moderate sentiment; shares are trading just Re 1 above the issue price of Rs 390.

Shivani Nyati of Swastika Investmart notes that Swiggy’s IPO achieved 3.59 times subscription, but current market volatility and valuation challenges make it a risky choice.

“Although there is interest, the company’s ongoing losses and market conditions mean a cautious approach is best,” Nyati said.

Prashanth Tapse, senior analyst at Mehta Equities, expects the listing to be “flat or slightly negative”, citing Swiggy’s high competition and negative cash flow model.

“Low demand from retail and NII investors reflects concerns about high competition and negative market sentiment.” Analysts suggested that investors with a high risk tolerance and long-term perspective may consider the stock, while others may take a more cautious approach.

Today’s listing for Swiggy’s employees is a major wealth-creation event, putting the company in line with other companies like Flipkart that have similarly rewarded employees with significant ESOP payouts. An IPO, a rare move in India’s startup world, allows significant benefits to early employees who helped the company grow.

Swiggy’s IPO performance will be closely watched as trading begins, signaling its position in the high-risk food delivery and express commerce sectors.