(Reuters) – Shares of Indian food and grocery delivery firm Swiggy debuted 7.7% higher in pre-open trade on Wednesday, after institutional investors led its $1.4 billion initial public offering to be oversubscribed by more than three times last week.
The stock listed at 420 rupees ($4.98) on India’s National Stock Exchange, compared to its issue price of 390 rupees.
($1 = 84.3990 Indian rupees)
(Reporting by Hritam Mukherjee in Bengaluru; Editing by Himani Sarkar)
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