Orange becomes the new black as Swiggy lists; Company's rise is kind of a miracle, says founder Majety

Swiggy's team at the listing ceremony at the NSE

Food delivery major Swiggy seems to be a classic case of ‘Orange is the new black’.

A typical listing ceremony for a company going public usually has corporate executives and investment bankers in the time-tested black and blue suits. But, in the case of Swiggy, the scene was entirely different. From the founders to the delivery partners, and all of Swiggy’s employees and even the investment bankers, were sporting the company’s orange jackets.

For Shriharsha Majety, the co-founder and CEO of Swiggy, the listing ceremony was a reminder of his college days at IIM Calcutta in 2010, where he had worked on a project similar to what Swiggy eventually became.

However, the idea faded from his mind soon after the college project was over, until one of his project partners joined Swiggy years later. Reflecting on the journey, Majety said, “a germ of that same thought might have led to the creation of Swiggy.” And while he did execute the idea, in his own words, the scale that it has reached is “not short of a miracle”.

The CEO also said that India’s next decade is going to be full of economic growth. Calling it a “love letter” to Swiggy’s customers, he said, “With a little bit of Swiggy in your life, you won’t just see economic growth – you’ll get to enjoy it.”

Majety said that building something like Swiggy “takes a village” and they have built a beautiful one. Among the most important members of this “village” are the delivery partners, he said.

Incidentally, the listing ceremony also saw quite a few delivery partners sharing their journey and experience of working together with Swiggy.

Jigar Khan, an early Swiggy delivery partner who has worked in Bengaluru for seven years, spoke about how his job helped him achieve key milestones: he said he paid off a loan, married his sister, and even bought a home. He also recounted how Swiggy’s insurance support helped him cover medical expenses when his son was sick.

Another delivery partner, Namrata Vora – the only female delivery partner in Mumbai’s Mira-Bhayandar region -- shared how the role has given her newfound independence and enabled her to support her family.

Meanwhile, Swiggy listed on the bourses today at a premium of 7.69 percent on the NSE. The stock debuted at Rs 420 per share on the NSE, higher than its issue price of Rs 390. On the BSE, Swiggy shares were listed at Rs 412 per share, a premium of 5.6 percent over the issue price.

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