Swiggy Shares Surge 7.7% In Trading Debut After $1.4 Billion IPO

Swiggy shares surged 7.7% in pre-open trade on Wednesday, debuting at 420 rupees ($4.98) on the National Stock Exchange, above its issue price of 390 rupees. The Indian food and grocery delivery firm’s $1.4 billion initial public offering (IPO) was oversubscribed by over three times last week, driven by strong demand from institutional investors. This marks a successful market debut.