Food delivery major Swiggy to debut on stock market on Wednesday

Shares of food delivery major Swiggy will make stock market debut on Wednesday following its Rs 11,327 crore initial public offering (IPO), second biggest this year and sixth-largest to hit the domestic market.

The IPO’s main book had garnered 3.6 times subscription, with 90 per cent of the bids coming from institutional investors.

Swiggy’s listing comes at a time when the domestic markets are under intense selling pressure on account of earnings disappointment and sharp selloff by overseas funds.