Food and grocery delivery firm Swiggy's $1.4 billion initial public offering was fully subscribed on Friday, as institutional investors rushed in with orders on the final day of India's second-largest share sale this year.

By day three of bidding, Swiggy's IPO was subscribed 0.95 times, with the retail segment subscribed at 0.96 times, NIIs at 37 times

Food and grocery delivery firm Swiggy's $1.4 billion IPO was 12% subscribed after its first day of bidding, with retail investors placing orders for more than half the shares reserved for them in India's second-largest IPO of 2024.

As per BSE data available on Wednesday, the employee portion has received 74 per cent subscription as of 5 pm, while the category reserved for retailers has seen 54 per cent subscription.

Swiggy's IPO saw a lukewarm response on its first day, with overall subscriptions reaching 9%. Despite a grey market premium, analysts are divided on the company's prospects due to its history of losses and stiff competition.

Bengaluru-based Swiggy opened for public subscription within a price band of Rs 371 to Rs 390 and people will be able to place their bids till November 8.

Food delivery giant, Swiggy, has launched its much-anticipated initial public offering (IPO), valued at ₹11,327.43 crores. The IPO opened for subscription on November 6 and is set to close on November 8.