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.

For many, this IPO was seen as a test of whether the market still has an appetite for large first-time share sales after Hyundai Motor India Ltd.’s record $3.3 billion offer had a less-than-stellar debut. Swiggy’s offering also came at a time when ...

Swiggy's IPO saw a lukewarm response on its final day, with the grey market premium plummeting to near zero. The muted demand, particularly from retail investors, is attributed to concerns over the company's profitability and a lackluster market sentiment.

The portion reserved for institutional investors in Indian food and grocery delivery firm Swiggy's $1.4-billion initial public offer was fully subscribed on the final day of the sale. With about three-quarters of the issue set aside for institutional investors,

Swiggy IPO targets ₹11,327.43 crore through a combination of fresh issue worth ₹4,499 crore and offer for sale of 17.51 crore shares worth ₹6,828.43 crore

Swiggy's $1.4 billion IPO saw its institutional investor portion fully subscribed on the final day, although overall subscription reached 79%. The retail investor portion remained partially unsubscribed.

Unlisted shares of Swiggy Ltd are currently trading just Rs 2 higher in the grey market, signalling a muted listing.