Swiggy's $1.4b India IPO oversubscribed as investors bet on quick-commerce boom

Swiggy's $1.4b India IPO oversubscribed as investors bet on quick-commerce boom

FILE PHOTO: Swiggy delivery bags are stored inside a truck Mumbai, India, October 14, 2024. REUTERS/Francis Mascarenhas/File Photo

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