Representational Photo
Representational Photo
Photo: Unsplash/@kaip

In today's world where competition is omnipresent and everyone's in a race to get ahead, brands are often found tussling with each other to leave each other behind. Brand rivalry is a legit thing.

The much anticipated initial public offering (IPO) of online food delivery company Zomato opened on Wednesday at Rs 72-76 per share offer and was fully received by the retail investors.

The retail segment of the offering has been fully subscribed in just over an hour. So far, the IPO has been subscribed around 20 percent on the first day of bidding.

On Tuesday, the company said that it has raised Rs 4,196 crore from several prominent institutional investors as part of an anchor book allocation. It has allocated 55.2 crore equity shares, to anchor investors, at a price of Rs 76 per share.

Government of Singapore, BlackRock, Goldman Sachs, Abu Dhabi Investment Authority among others were the participants in the anchor book.

While Indians looked on as Zomato moved ahead with its IPO, many wondered what rival food delivery brand Swiggy is doing?

Well, Swiggy acted like a friend yet smart business and sent this notification to its customer.

Netizens immediately took to their keypads and commented on this act. While many praised Swiggy for being supportive of Zomato, other made memes.

Here's how people are reacting. Have a look.

With inputs from IANS.

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Free Press Journal