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Swiggy's initial public offering (IPO) on the National Stock Exchange of India (NSE) marked a significant milestone for the food delivery giant. The company's listing was met with enthusiasm, with the stock opening at a premium of 7.69% on the NSE. This success story, however, extends beyond just numbers. It reflects a journey that, according to co-founder and CEO Shriharsha Majety, is nothing short of a 'miracle'.
The listing ceremony itself was a testament to the company's vibrant culture. Instead of the traditional black and blue suits worn by executives at IPOs, Swiggy's employees, including the founders, delivery partners, and even investment bankers, were adorned in the company's signature orange jackets. This unified attire symbolized the shared spirit and camaraderie within the company, a key element that Majety believes contributed to Swiggy's phenomenal growth.
Majety's journey with Swiggy echoes his experiences from his time at the Indian Institute of Management Calcutta (IIM-C). He had worked on a college project that had a similar concept to Swiggy, but the idea had faded until one of his project partners later joined Swiggy. This event ignited the spark that eventually led to the creation of the company. He emphasizes that while the idea was his, the scale that Swiggy has achieved is a result of collective efforts and a touch of serendipity.
Majety envisions a bright future for India's economy, calling it a 'love letter' to Swiggy's customers. He believes that the next decade will be marked by economic growth, and Swiggy will be a vital part of this progress, allowing people to 'enjoy' the economic growth. He recognizes the vital role of the company's delivery partners in this journey, acknowledging that building something like Swiggy 'takes a village' and that they have built a beautiful one.
The listing ceremony provided a platform for Swiggy's delivery partners to share their success stories and experiences. Jigar Khan, an early Swiggy delivery partner in Bengaluru, highlighted how his job with Swiggy helped him achieve personal milestones, including paying off a loan, marrying his sister, and purchasing a home. He also spoke about the company's insurance support, which helped cover his son's medical expenses during a time of need.
Namrata Vora, the only female delivery partner in Mumbai's Mira-Bhayandar region, emphasized the newfound independence and financial support her role at Swiggy has provided her family. These personal narratives underscore the tangible impact Swiggy has had on the lives of its delivery partners, further solidifying the company's commitment to its employees and its role in fostering economic progress.