MUMBAI — Indian food and grocery delivery company Swiggy closed an oversubscribed $1.35 billion initial public offering on Friday, as strong institutional investor demand buoyed the country’s second-biggest share sale this year.
Bids for Swiggy came in at 3.6 times the 160 million shares on offer, at a price range of between 371 and 390 rupees ($4.4 to $4.62), stock exchange data showed. The offering trails only that of automaker Hyundai Motor India’s $3.3 billion IPO last month.
