Shares of Swiggy surged 7% to ₹440 on Wednesday as the food-delivery and quick-commerce startup concluded India's second-largest IPO this year. Swiggy's $1.4 billion IPO, the second largest in India this year,

Swiggy Ltd.’s shares climbed in their Mumbai debut, signaling a vote of confidence for large initial public offerings in India.

The IPO comprised of both a offer for sale of shares worth 68.28 billion rupees and a fresh issue of shares of 44.99 billion rupees.

Shares of Indian startup Swiggy surged at its Mumbai debut, driven by strong institutional interest in the food and grocery delivery company.

Swiggy's upcoming IPO on Wednesday will finally give many analysts a public comparable for what has been long considered to be the Indian internet stock: Swiggy's listing will test whether the Indian market is ready for $1 billion-plus IPOs.

The IPO comprised of both a offer for sale of shares worth 68.28 billion rupees and a fresh issue of shares of 44.99 billion rupees.

While big ticket offerings have seen relatively muted responses, India’s IPO market has been buoyant, with about 290 companies raising nearly $14 billion so far this year, roughly twice the amount raised in all of last year, LSEG data showed.

Swiggy shares listed at a 5.6 per cent premium to its IPO price of Rs 390, making the food delivery giant the first company with issue of over Rs 10,000 crore in the past decade to have listed above t

India’s online food and grocery delivery industry has witnessed remarkable growth, particularly since the COVID-19 pandemic, which accelerated the adoption of digital services across the country

By Hritam Mukherjee and Chris Thomas BENGALURU (Reuters) -SoftBank-backed Swiggy's shares ended nearly 17% higher in their trading debut in India on Wednesday, signalling growing investor confidence in food and grocery delivery firms as shoppers increasingly go online and want fast deliveries.