Swiggy IPO subscribed 12% on day one; individual investors bid most

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 high net worth individual (HNI) portion of the issue was subscribed 6 per cent, retail investors subscribed 54 per cent, and employees subscribed 74 per cent. The retail quota for the IPO is set at only 10 per cent, compared to the typical 35 per cent.