SoftBank-backed Swiggy's shares jumped nearly 15 per cent in their trading debut in India on Wednesday, signalling growing investor confidence in food and grocery delivery firms as shoppers increasingly go online and want fast deliveries.

Shares of Swiggy surged 7% to ₹440 on Wednesday as the food-delivery and quick-commerce startup concluded India's second-largest IPO this year. Swiggy's $1.4 billion IPO, the second largest in India this year,

The IPO comprised of both a offer for sale of shares worth 68.28 billion rupees and a fresh issue of shares of 44.99 billion rupees.

As this sector is only about 1% of India's overall grocery retail landscape, there is an "exponential latent growth runway" for Swiggy's delivery arm, Instamart, the research firm added. However, Macquarie raised concerns over the profitability of ...

Swiggy's upcoming IPO on Wednesday will finally give many analysts a public comparable for what has been long considered to be the Indian internet stock: Swiggy's listing will test whether the Indian market is ready for $1 billion-plus IPOs.

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.

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