Swiggy IPO Sees Muted Response On First Day, Gets Bids For 1.8 Crore Shares

The Swiggy IPO received bids for about 1.8 crore shares against around 16 crore shares on offer, according to the NSE data.

Online food delivery platform Swiggy saw a muted response to its Rs 11,327 crore IPO on the first day of bidding on Wednesday, as brokerages advised investors to avoid the IPO until the company's financial performance and growth outlook improve.

The IPO received bids for about 1.8 crore shares against around 16 crore shares on offer, according to the NSE data.

Till about 4 pm, Swiggy received a total of 1,78,10,182 bids as against 16,01,09,703 shares (a mere 0.11 times), as per the NSE data.