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.

The initial public offering (IPO) of food delivery major Swiggy was subscribed 12 per cent on Wednesday, the opening day of the issue. Most of the bids came from individual investors, while the qualified institutional buyer (QIB) portion saw only a few bids.

The retail individual investors (RIIs) segment achieved a 54% subscription, while the non-institutional investors (NIIs) category recorded a 6% subscription.

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.

The Initial Public Offering ( IPO ) of food delivery major Swiggy has opened today on November 6 with the startup planning to raise more than Rs 11,000 crore. Domestic stock markets which are facing strong volatility ahead of US Presidential Elections 2024,

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.