From doorbells to NSE bell: Swiggy marks its journey in new ad film

Swiggy, the food aggregator platform, marked its debut on the stock market with a 35-second ad film created by its in-house agency. The film opens with a series of bells ringing in quick succession, building into a crescendo.

A voiceover states, “Ghanti bajate bajate kaha pohoch gaye” (“Look where we’ve reached as a result of ringing so many bells”), drawing a parallel between the doorbells rung by Swiggy’s delivery executives and the ceremonial bell ringing at the National Stock Exchange (NSE).

The ad highlights Swiggy’s offerings, including Swiggy Food, Instamart, DineOut, Genie, and Minis.

At the NSE listing ceremony, Swiggy co-founders Sriharsha Majety and Nandan Reddy were joined by members of the management team—Rohit Kapoor, Phani Kishan, Rahul Bothra, Amitesh Jha, and Madhusudhan Rao—as well as delivery partners Jigar Khan and Namrata Vora, who participated in ringing the bell.

(Trivia:The opening bell is a ceremonial event that marks the start of the trading day on the stock exchange. Although most trading is electronic, this symbolic act is often performed by a prominent figure, such as a dignitary or a company making its market debut. The bell signals the beginning of a new day for traders and investors, marking a fresh opportunity for buying and selling securities.)

Swiggy shares were listed at a 7.69% premium on the NSE on November 13, debuting at Rs 420 per share over the IPO price of Rs 390. On the BSE, shares opened at Rs 412 per share, marking a 5.6% premium, and later rose 7.67% to Rs 419.95.

According to the company’s Draft Red Herring Prospectus (DRHP), Swiggy had 231 million outstanding Employee Stock Option Plans (ESOPs) as of September 2024, valued at Rs 9,046.65 crore based on the IPO’s upper price band of Rs 390 per share.

This IPO is expected to increase the financial worth of nearly 500 Swiggy employees, whose ESOP holdings are now valued at several crores.

In celebration of Swiggy’s IPO, one of its earliest investors, Accel, launched a brand film showcasing the memorable moments Swiggy has been part of in people’s lives. The film’s message shifts from “Celebrating with Swiggy” to simply “Celebrating Swiggy.”

Zomato CEO Deepinder Goyal also congratulated rival Swiggy on its stock market debut, stating he "couldn’t have asked for a better company to serve India alongside."

Congratulations @swiggy!

Couldn't have asked for a better company to serve India with. https://t.co/ZgU5tIt1pW

— Deepinder Goyal (@deepigoyal) November 13, 2024