Swiggy’s IPO debut tests demand for rapid-delivery firms in India

Swiggy Ltd.’s shares are set to start trading in Mumbai on Wednesday, marking a test for investor interest in India’s burgeoning quick-commerce sector.

The food-delivery firm’s $1.3 billion share sale, which was subscribed more than three times last week, is the nation’s second largest listing this year, following Hyundai Motor India Ltd.’s record $3.3 billion IPO.