Swiggy, India’s leading on-demand delivery platform, recently made headlines with its highly anticipated Initial Public Offering (IPO) debut. The IPO, valued at

Swiggy's upcoming IPO on Wednesday will finally give many analysts a public comparable for what has been long considered to be the Indian internet stock: Swiggy's listing will test whether the Indian market is ready for $1 billion-plus IPOs.

(Reuters) -Shares of Indian food and grocery delivery firm Swiggy rose 2.5% in their trading debut on Wednesday, after its $1.4 billion IPO last week, but pared initial gains on concerns about its path to profitability.

The IPO comprised of both a offer for sale of shares worth 68.28 billion rupees and a fresh issue of shares of 44.99 billion rupees.

Zomato CEO Deepinder Goyal publicly congratulated Swiggy on its successful IPO debut. Goyal's message on X celebrated this achievement as a win for the entire food delivery industry in India. Swiggy responded with humorous posts expressing their joy,

Majety has largely avoided the limelight, a sharp contrast to his counterpart Deepinder Goyal, Zomato’s CEO, who is known for his active social media presence and public appearances.

The issue, which opened on November 6, was subscribed 3.6 times the shares on offer driven by institutional investors on the third and final day.