While big ticket offerings have seen relatively muted responses, India’s IPO market has been buoyant, with about 290 companies raising nearly $14 billion so far this year, roughly twice the amount raised in all of last year, LSEG data showed.

Food and grocery delivery firm Swiggy's $1.4 billion initial public offering was fully subscribed on Friday, as institutional investors rushed in with orders on the final day of India's second-largest share sale this year.

Swiggy has raised around $606 million from a set of more than 75 anchor investors as part of its $1.35 billion initial public offering, as the Indian food delivery and quick commerce startup prepares for the country’s second-largest listing of the year next week.

An investigation by India's antitrust body found food delivery giants Zomato and SoftBank-backed Swiggy breached competition laws, with their business practices favouring select restaurants listed on their platforms,

Swiggy and Zomato are reportedly in breach of competition laws, favouring certain restaurants in the country, says a CCI report.