Swiggy $1.4 bn IPO opens for orders as Indian stocks lose some appeal

Indian food and grocery delivery firm Swiggy is expected to see just modest demand from retail investors for its $1.4 billion IPO even after cutting its hoped-for valuation twice, with momentum for domestic stocks having cooled considerably.

The country’s second-largest IPO for the year opened for bids on Wednesday with orders to be taken until Nov 8. The price range is Rs 371-390.