Swiggy $1.4 bn IPO opens for orders as Indian stocks lose some appeal

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On Tuesday, anchor investors including Fidelity and Norway's sovereign wealth fund Norges bought shares worth $605 million.

Most of the retail investors who would subscribe to the issue will do it keeping a medium-to-long-term horizon for returns," Ojha said.

But while India was an outlier in Asia with a string of high-profile offerings this year, Swiggy's IPO comes after a slide in Indian equities in October that is expected to extend into November.

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Category: BusinessFinance

Markets: IndiaNorway

Topics: Asia SWIGGY Blinkit Mahesh Ojha Hyundai Motor India Zomato Norges Initial public offering Presidential election United States Q-commerce Food delivery Initial Public offering Hritam Mukherjee Online Services (NEC) Pre-IPO Zepto Banks (NEC) IPO Zomato Online food ordering Companies based in Bangalore Swiggy Institutional investor Courier Services Retail investors Hensex Securities Food

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News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-06 @ 12:01:51 (2 weeks ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

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Copyright Owner: © Business Standard

News ID: 23442992

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