Swiggy, India’s leading on-demand delivery platform, recently made headlines with its highly anticipated Initial Public Offering (IPO) debut. The IPO, valued at

(Reuters) -Shares of Indian food and grocery delivery firm Swiggy rose 2.5% in their trading debut on Wednesday, after its $1.4 billion IPO last week, but pared initial gains on concerns about its path to profitability.

The Rs 11,327-crore initial public offer of Swiggy got fully subscribed on the final day of the share sale on Friday, ending with 3.59 times subscription. The initial share sale had a price range of Rs 371-390 apiece.

The stock rallied over 7% in the second trading session to hit an intraday high of INR 489.25 on the BSE. However, it shed all its gains and was trading 3.5% lower at INR 440.20 at 1:07 PM.

Tencent Holdings Ltd.’s top backer Prosus NV said it has made more than $2 billion on its Swiggy investment as it continues to highlight the value of its portfolio outside of its stake in the Chinese tech giant.

Shares of Indian startup Swiggy surged at its Mumbai debut, driven by strong institutional interest in the food and grocery delivery company.

(Reuters) -Shares of Indian food and grocery delivery firm Swiggy jumped nearly 15% in their trading debut on Wednesday, bucking weakness in the broader market and a better performance than some analysts had predicted for the loss-making firm after its $1.

Shares to start trading at 10 a.m. India time after $1.3 billion IPO Indian stocks edge lower at open ahead of Swiggy debut Indian IPOs since 2019 that raised more than $1 billion have on average generated a 3.

Indian food delivery firm Swiggy rose nearly 17 percent on its market debut Wednesday after raising $1.34 billion in the country's second-biggest IPO this year, as investor optimism offset profit

The company's IPO, the country's second-largest this year, was reportedly oversubscribed more than three times.